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To: shades who wrote (60214)	5/3/2006 2:24:09 PM
From: shades	Read Replies (1) \| Respond to of 110194

Lula: Brazil Accepts Bolivia Sovereignty On Gas Issue . SAO PAULO (Dow Jones)--Brazil accepts the sovereign authority of Bolivia's government in the case of a Bolivian decision this week to nationalize natural gas reserves but will insist on defending its contractual rights to obtain Bolivian gas through the Gasbol pipeline, Brazilian President Luiz Inacio Lula da Silva said Wednesday. Lula spoke before a conference of labor leaders and economists in Brasilia. His comments were carried on nationwide television. The comments were his first public remarks on the gas issue since Bolivian President Evo Morales decreed the nationalization of gas reserves on Monday. "There are some in the press who want to make this into a crisis between Brazil and Bolivia," the president said. "But there is no crisis and there will not be a crisis." Lula said a crisis can be avoided if both countries "accept the need to negotiate" on issues such as gas prices. (MORE TO FOLLOW) Dow Jones Newswires May 03, 2006 12:47 ET (16:47 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 12 47 PM EDT 05-03-06 Lula: Brazil Accepts Bolivia Sovereignty On Gas Issue -2 . Brazil has multiple interests in Bolivia. Under a contract signed in the 1990s, Brazil buys up to 30 million cubic meters per day of natural gas from Bolivia. In addition, Brazil's government-owned energy company, Petrobras (PBR), has made some $1.6 billion in investments in Bolivia in both gas and oil development. Lula defended the Bolivian decision to nationalize reserves, saying "it was a necessary adjustment for a suffering people seeking a greater measure of control over their own resources." On the other hand, the president said, "The fact that Bolivia has rights does not deny the fact that Brazil has rights in the matter as well." The president defended negotiations, saying, "I learned to negotiate long before I was a politician and our differences will be removed talking around a negotiating table." Lula was a labor leader before entering politics in the early 1980s. Lula concluded his remarks by saying, "I'm sure that we will come to an agreement." Lula and Morales will meet with Argentine President Nestor Kirchner and Venezuelan President Hugo Chavez in Argentina Thursday for broad discussions on the gas issue. -By Tom Murphy, Dow Jones Newswires; 5511-3145-1478; brazil@dowjones.com (END) Dow Jones Newswires May 03, 2006 12:54 ET (16:54 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 12 54 PM EDT 05-03-06