Bolivia and Brazil
Press Release

Bolivia ensures expansion of gas export to Brazil

Bnamericas Published: Tuesday, December 17, 2019
Bolivia ensures expansion of gas export to Brazil

UCOM-MH-12-17-2019.- The Bolivian official delegation that visited Brazil to negotiate the addendum for the sale of natural gas achieved positive initial agreements because the market in that country will remain open for the next 3 or 4 years in which The outstanding gas debt can be canceled and new volumes can also be injected to guarantee fresh income for Bolivia, the Minister of Hydrocarbons, Victor Hugo Zamora, reported.

This negotiation will continue for 70 days until the signing of an addendum to the agreement between YPFB and PETROBRAS that lasted 20 years, whose term ends at the end of this month.

In the recent agreements it was agreed that the export volumes to Brazil, in this new stage will be 19.25 million cubic meters per day (MMmcd) with which the committed and paid and not yet withdrawn volumes will be met and the new volumes that allow new income to guarantee the economic stability of the country.

The decrease in these volumes accepted by PETROBRAS is a product of Bolivia's sincereness regarding its true potential for reserves and production, a favorable management that will avoid paying fines for breach of contract.

Minister Zamora guaranteed that the country has enough natural gas to supply the export markets to Brazil and Argentina and also domestic consumption, so that it enters a stage of tranquility and stability to leave that situation to the next government.

When asked about recent statements by former YPFB President José Luís Rivero, Minister Zamora emphatically pointed out that the state hydrocarbons company is in good health and that such claims are a lapse that should not be taken into account.

The government authority announced that the next step is to initiate similar negotiations with Argentina, a country that is also a buyer of natural gas, for which YPFB executives will be of vital importance.

He also informed that he had just received an official delegation from the United States that informed him of the intention of that country to open to negotiate with Bolivia hydrocarbon issues and also to install his companies in Bolivia, a proposal that was welcomed.

This Ministry of Hydrocarbons release was published using machine translation.

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