Gazprom on Friday signed an agreement with the Bolivian ministry of hydrocarbons and energy and YPFB on broadening cooperation including the advocation of LNG use.
The agreement was signed by Gazprom’s head Alexey Miller with Luis Alberto Sanchez Fernandez, Bolivian minister of hydrocarbons and energy, and Guillermo Acha Morales, president of Yacimientos Petroliferos Fiscales Bolivianos (YPFB), Gazprom said in its statement.
The deal to advocate the use of LNG in Bolivia follows a memorandum of understanding signed in February this year when parties agreed to implement projects aimed at using natural gas as fuel in passenger, freight and river transportation in Bolivia, as well as for autonomous supply purposes.
The cooperation additionally entails joint development of new projects for hydrocarbon exploration, production, and transportation in Bolivia.
The parties plan to update the plans for Bolivian gas industry development until 2040.
Gazprom EP International’s managing director Andrey Fick signed a separate agreement with YPFB’s president Acha Morales to explore the La Ceiba, Madidi, and Vitiacua blocks, with retrieved geological and geophysical materials to be used for feasibility studies.