Bolivia, natural gas extractions to reach levels over 33% by 2020

Bolivia, natural gas extractions to reach levels over 33% by 2020

Editorial Staff
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The discovery of new gas fields last February opens new possibilities for the Bolivian natural gas market. Gazprom also interested in the development of new projects

Expanding natural gas extraction to over 20 million cm/day, over 33% by 2020. This is the proposed plan by the ministry of Hydrocarbons and Energy in Bolivia. Luis Alberto Sanchez, who declared: "Total natural gas production is currently at 60 million cm/day. By 2020, through several important projects aimed at preventing the decrease of gas reserves in gas fields and guaranteeing the supply in national as well as foreign, markets, production is expected to grow by over 20 million cm". Last February, the Spanish company Repsol and the Bolivian state energy company YPFB has announced the discovery of new gas fields in the South American country, increasing reserves by 40%: in addition to the estimated 302 bcm present in 2013, there was an addition of 115 bcm from the deposits in the Caipipendi block. Additionally, Bolivian natural gas now appears to be drawing interest from Russia. During the Saint Petersburgh International Economic Forum, Gazprom, the Ministry of Hydrocarbons in La Paz and YPFB laid out a road map centered on exploration, production and transport of hydrocarbons as well as the use of liquefied natural gas.