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Argentina Aspires to Export LNG to Europe; Avianca and Gol to Merge

A roundup of Wednesday’s news from across Latin America

Bloomberg Línea
By Adam Critchley
May 11, 2022 | 11:30 pm

Bloomberg Línea — Argentina is aiming to ramp up its liquefied natural gas (LNG) production and become a major exporter of the fuel, taking advantage of the second largest unconventional gas reserve in the world, located in Vaca Muerta, and of the fact that European countries are seeking to wean themselves off the supply of Russian gas following the invasion of Ukraine. President Alberto Fernández is currently in Europe courting such partners, having met with Spain’s Prime Minister Pedro Sánchez and German Chancellor Olaf Scholz.

Colombian airline Avianca Group International Ltd and Brazil’s Gol Linhas Aereas Inteligentes SA (GOL) have agreed to merge. Major shareholders of both companies signed an agreement Wednesday that will create a “leading air transportation group throughout Latin America”, according to the joint filing, and which will position itself as a competitor to regional carrier Latam Airlines.

On the region’s stock markets, Argentina’s Merval (MERVAL) again posted the strongest gains in the region, climbing 2.49%, while the Brazilian and Mexican markets also posted gains.

Following is a roundup of Wednesday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.

Argentina:

Bolivia

Brazil:

  • Brazil’s Gol Linhas Aereas Inteligentes SA and Colombian airline Avianca Group International Ltd have agreed to merge. Major shareholders of both companies signed an agreement Wednesday that will create a “leading air transportation group throughout Latin America”, according to the joint filing, and which will position itself as a competitor to regional carrier Latam Airlines. The resulting company will be called Abra Group, and both Avianca and Gol will maintain their brand names. Roberto Kriete will serve as chairman of the board of directors of Grupo Abra, a Salvadoran businessman who headed TACA airline in the 1980s, which merged with Avianca in 2009, and also founded low-cost airline Volaris.

Chile:

Colombia:

Dominican Republic:

Ecuador:

Mexico:

Panama:

Uruguay: