A Road Map has been signed between Gazprom, Bolivia's Ministry of Hydrocarbons and Yacimientos Petroliferos Fiscales Bolivianos (YPFB) for implementing projects in Bolivia.
The agreement was signed by Alexey Miller, Chairman of the Gazprom Management Committee, Luis Alberto Sanchez Fernandez, Bolivian Minister of Hydrocarbons and Energy, and Guillermo Acha Morales, President of YPFB, at the St Petersburg International Economic Forum 2016.
The document sets out the basic measures for broadening cooperation in a number of areas, including the promotion of LNG use throughout Bolivia, as well as joint development and implementation of new projects for hydrocarbon exploration, production, and transportation in the country.
Also, Andrey Fick, Managing Director of Gazprom EP International B.V. and Guillermo Acha Morales signed an agreement to explore the La Ceiba, Madidi and Vitiacua blocks. According to the document, Gazprom EP International B.V. will be granted the right to study the geological and geophysical materials from the abovementioned blocks for one year. The materials will be used for feasibility studies. If Gazprom decides to take part in the geological exploration and development of those blocks, Gazprom EP International B.V. may enter into operator contracts for selected blocks on a non-tender basis.
Mr Miller said: “Today, Gazprom and Bolivia confirmed their mutual commitment to enhancing their strategic cooperation in the oil and gas sector. Our presence in Bolivia will stimulate the dynamic growth of the country's energy market and facilitate its social and economic development.”
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/regasification/20062016/gazprom-to-promote-use-of-lng-in-bolivia-2627/