South American leaders to meet Morales on Bolivia's gas nationalization

The leaders of three South American big economies will meet Bolivian President Evo Morales in Argentina Thursday on his country's nationalization of the gas industry, an Argentine government source said on Tuesday.

Argentine President Nestor Kirchner, Brazilian President Luiz Inacio Lula da Silva and Venezuelan President Hugo Chavez will discuss with Morales about a decree signed by him Monday on the gas nationalization.

The meeting will take place in Argentina's northeast city of Puerto Iguazu, said the source.

Morales signed a decree Monday on nationalizing Bolivia's gas industry, which has sparked deep concern among foreign investors in the country, especially Brazil.

Brazil's state-owned oil company Petrobras, a top investor in Bolivia, controls 14.5 percent of the country's gas reserves and has invested about 1.6 billion U.S. dollars in Bolivia since 1996.

Source: Xinhua