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Gazprom signs MOU with Bolivia promoting use of LNG

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LNG Industry,

Alexey Miller, the Chairman of the Gazprom Management Committee, has visited Bolivia to discuss energy cooperation.

In a meeting with Evo Morales – the President of Bolivia – a number of issues related to present and future energy cooperation were discussed.

In a meeting with Luis Alberto Sanchez – the Bolivian Minister of Hydrocarbons and Energy – the further business development of Gazprom in Bolivia was discussed. In addition to this, the two signed a memorandum of understanding (MOU) promoting the use of LNG. Gazprom states that this reflects both parties’ intention to promote the use of natural gas as a fuel in passenger, freight and river transportation in Bolivia, as well as for autonomous supply purposes.

Miller also met Guillermo Acha – the President of Yacimientos Petroliferos Fiscales Bolivianos – and signed an agreement regarding strategic cooperation. The agreement promotes collaboration in the exploration, production and transportation of hydrocarbons, as well as the construction and upgrading of oil and gas infrastructure. In addition to this, it encourages the building of power generation capacities in Bolivia, as well as joint efforts for development and scientific and technical cooperation in the Bolivian natural gas vehicle (NGV) market.

Sergey Tumanov – the Managing Director of Gazprom EP International Services B.V. – Luis Alberto Sanchez and Guillermo Acha signed the agreement on updating the Bolivian gas industry’s general scheme for development until 2040. This scheme defines the areas of development for the national energy and fuel sector in the exploration, production, processing, transportation and marketing of hydrocarbons.

Miller said: “The energy industry of Bolivia is rapidly evolving. Today's documents offer new opportunities for Gazprom to expand its presence in this promising market. It will definitely move forward the Bolivian fuel and energy sector to a qualitatively new level and contribute to solving current economic issues in the country.”

Edited from press release by David Rowlands

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