Bolivia Plans To Invest $1.6 Billion To Develop Natural Gas

- Dec 12, 2017-

Reuters reports on November 21st, the Bolivian government has and repsol, Brazilian countries oil gas development agreement, shell and pan American energy, plans to invest $1.6 billion to improve gas production.

Trading blocks include Iniguazu, San Telmo Norte and Astillero gas fields."We are confident of signing this contract and will be committed to ensuring the transparency of the contract."Bolivian President evo morales said.Gas production in Bolivia has fallen recently.In 2016, Bolivia's gas reserves were 300 billion cubic meters, down 3% from 2015, according to BP statistics.

Mr Morales said the production of natural gas would increase by 550,000 cubic metres per day by 2020-2021, after the production of projects with foreign cooperation.

Antonio brufook, CEO of repsol, said that based on existing infrastructure, if the Iniguazu project prospected, gas output would soon be achieved.

In July, Argentina said that Bolivia's gas was more competitive than LNG, and that the agreement to import gas from Bolivia was extended beyond 2026.