BELARUS NEWS AND ANALYSIS

DATE:

08/12/2007

Venezuela's Chavez meets with Belarus President Lukashenko

CARACAS, Venezuela (AP) - Presidents Hugo Chavez of Venezuela and Alexander Lukashenko of Belarus toured a trade fair and inspected heavy machinery the former Soviet republic is selling to Venezuela under agreements signed in 2006.

Neither leader spoke to the media on Friday as Lukashenko kicked off a two-day visit _ his first to the South American nation.

The two countries "are trying to put together a relationship based on shared development," Venezuelan Foreign Minister Nicolas Maduro told state television.

On Saturday Chavez and Lukashenko are scheduled to inaugurate a joint venture to develop oil and natural gas fields in Venezuela's eastern state of Anzoategui.

Under the agreement, state-run companies Petroleos de Venezuela, or PDVSA, and Belorusneft also will develop oil and natural gas fields near Lake Maracaibo.

PDVSA will control 60 percent of the joint venture, while Belorusneft will take a 40 percent stake.

Belarus hopes the venture will produce 1 million metric tons (1.1 U.S. tons) of oil next year and 2 million metric tons (2.2 million U.S. tons) in 2009, Lukashenko's office said in a statement.

Source:

http://www.pr-inside.com/venezuela-s-chavez-meets-with-belarus-president-r338163.htm