The
subregion's electric and gas interconnection,
the formation of energy "clusters"
and the development of renewable energy
sources are the basic elements of
the Andean Energy Alliance agreed
at the First Meeting of the Council
of Ministers of Energy, Electricity,
Hydrocarbons and Mines, held in Quito
on January 30, 2004.
Energy-wise,
this country has the second largest
natural gas reserves in the region
after Venezuela and ranks among Latin
America's top ten countries in water
reserves. Brazil and Argentina are
its most important energy export markets.
Endowed
with the largest coal reserves in
the region, Colombia ranks second
in hydroelectric potential and is
one of Latin America's top six countries
in oil reserves. The major part of
its energy (oil) exports goes to the
United States market.
This
country has the fourth largest oil
reserves in the region, after Venezuela,
Mexico and Brazil, and is among the
top ten Latin American countries in
water reserves. The United States
is its most important export market.
Peru has Latin America's third largest
water reserves, after Brazil and Colombia,
and ranks sixth in natural gas.
Oil-wise,
this country has the largest reserves
in the region and the sixth largest
in the world. It is a founding member
of the Organization of Petroleum Exporting
Countries (OPEC). Venezuela also has
Latin America's largest natural gas
reserves and ranks fourth in coal
reserves and fifth in hydroelectric
reserves. It should be added here
that it is the site of the world's
largest refining complex (Paraguana)
and second most important hydroelectric
complex (Raúl Leoni), after
Itaipú (Paraguay-Brazil).
