Venezuela's Hugo Chavez Proposes Gas Pipeline to Cuba (Update2)

By Steven Bodzin
Aug. 11 (Bloomberg) -- Venezuela President Hugo Chavez supports constructing a natural gas pipeline beneath the Caribbean to supply neighboring islands and Cuba, and possibly extending to Mexico's Yucatan Peninsula.
Chavez called for the Venezuela-to-Caribbean pipeline in a speech today to the PetroCaribe summit, a gathering in Caracas of energy ministers and heads of state from the region. The speech was broadcast on Venezuelan state television.
The proposal for what he called a ``Great Trans-Caribbean Gas Pipeline'' comes just two weeks after Chavez said his plan for a ``Great Gas Pipeline of the South'' was on hold. That $20 billion pipeline to Argentina through the Amazon rain forest had been ``frozen'' by opposition in Brazil, he said July 27.
The Caribbean pipeline would also supply Puerto Rico and Haiti, Chavez said. He said another way to supply the Caribbean would be to build a plant to regasify liquefied natural gas in Haiti, which could be ready in two years. Venezuela has no plants to liquefy natural gas and none under construction.
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