Contrary to promises to preserve the environment, the first project announced by Lula will be a highly polluting gas pipeline in Argentina, financed with Brazilian money through the National Bank for Economic and Social Development (BNDES).
According to Argentina's Energy Secretary, Flavia Royón, the project is expected to cost about R$4 billion (US$770 million).
The pipeline will connect the Vaca Muerta region in western Argentina to the province of Santa Fe.
Known as the "treasure of Vaca Muerta", the geological formation rich in shale gas is considered the world's second-largest unconventional gas reserve.
Shale . . .
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