Bolivia hopes to obtain up to 1,000 million dollars with companies in Brazil

Bolivia hopes to obtain up to 1,000 million dollars with companies in Brazil



The Bolivian government expects that agreements signed with Brazilian companies for the sale of gas and urea will report between 800 and 1,000 million dollars to Bolivia, an official source reported today.

"Between 800 to 1,000 million dollars will report the agreements we have signed with private companies in Brazil," Bolivian Hydrocarbons Minister Luis Sánchez said in a statement from this department.

The agreements were signed last week in the city of Santa Cruz, the economic capital of Bolivia, between the state company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) and the Brazilian firms GP Camacari, MSGÁS and Hinove Agrociencia.

In addition to the sale of gas and urea fertilizer, they foresee participation in its commercialization and distribution in Brazil and that YPFB will be a partner in thermoelectric projects in this country, he recalled.

The minister added that for YPFB "it is time to reinvent itself", so in 2019 it plans to start operating "in other areas than usual, especially abroad, in marketing, in distribution."

Sánchez recalled that Bolivia currently has the largest gas reserves in its history, about 10.7 trillion cubic feet (TCF).

"What allows us to guarantee the domestic market for fifteen more years and also to comply with the commitments to the export markets and new markets, which we signed a few days ago," he said.

The authority added that "according to the technical projections we have with the exploratory wells, we expect to almost double the gas reserves."

The Minister of Hydrocarbons also referred to less polluting fuels, one of the Bolivian Government's commitments.

"This 2018 we can say that it is the year of green fuels," he said, referring to the beginning of the commercialization in Bolivia of ethanol produced in the country as an additive for gasoline.

"A historic agreement between the State and the private sector that allows an investment of 1,600 million dollars, the generation of 30,000 new sources of employment and a growth -of the economy- of 0.9% in the first year of the project," he stressed.

The goal in 2019 is to implement gasoline called Super Ethanol 97, a pilot project for the import of Flex Fuel vehicles, which consume hydrated alcohol, and the incorporation of biodiesel, which "we hope that until the last quarter of the next management can be in the market, "he concluded.

Bolivia has in the sale of gas to neighboring countries one of the main revenues of the State, with contracts especially in Brazil and Argentina, and is committed to the national production of additives to gasoline and diesel to reduce the import of these fuels.

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