URUGUAY TO SIGN GAS DEAL WITH ANGOLA

Montevideo, August 23 (PL)- Raúl Sendic, president of Uruguay state-run oil Co. Ancap will travel next September to Angola with the mission accompanying FM Luis Almagro to sign with counterpart Sonangol a gas venture agreement, says La República daily.

Sendic assured Ancap and the local UTE Electricity Co. are speeding the construction of a gas plant two kilometers from the coast in Puntas de Sayago, Montevideo, adding that having better sales prices demand having good contracts while La Republica daily highlights Sonangol´s excellent reserves and facilities to become a supplier.

The official, at once, denied the existence of set prices on the sales of futures to Argentina for the latter must invest in building the plant first to know of the exact expenses and payoff.

<