Gazprom and Bolivia advancing cooperation to new levels
Tarija hosted a working meeting between Alexey Miller and Evo Morales, President of the Plurinational State of Bolivia. The parties discussed a wide range of issues relating to the ongoing and future energy cooperation. This collaboration was noted to be strategic and long-term.
Another working meeting was held between Alexey Miller and Luis Alberto Sanchez, Bolivian Minister of Hydrocarbons and Energy. The meeting addressed further business development of Gazprom in Bolivia.
Following the meetings a number of documents on energy cooperation were signed in the presence of Evo Morales, President of Bolivia.
Alexey Miller and Guillermo Acha, Acting Executive President of Yacimientos Petroliferos Fiscales Bolivianos, inked the Agreement on strategic cooperation.
The Agreement stipulates the collaboration in the exploration, production and transportation of hydrocarbons, construction and upgrading of oil and gas infrastructure, as well as building of power generation capacities in Bolivia. In addition, the Agreement covers joint efforts for the Bolivian NGV market development and the scientific and technical cooperation. Pursuant to the Agreement the parties may also consider possible joint participation in energy projects outside Russia and Bolivia.
Alexey Miller and Luis Alberto Sanchez signed the Memorandum of Understanding to promote the use of liquefied natural gas. The Memorandum reflects the intent of the parties to implement projects aimed at using natural gas as a fuel in passenger, freight and river transportation in Bolivia, as well as for autonomous supply purposes.
Sergey Tumanov, Managing Director of Gazprom EP International Services B.V., Luis Alberto Sanchez and Guillermo Acha inked the Agreement on updating the General Scheme for the Bolivian gas industry development until 2040. The General Scheme defines the development areas for the national fuel and energy sector in hydrocarbon exploration, production, processing, transportation, and marketing.
“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,” said Alexey Miller.
The visit was marked by the ceremony of granting the title of Tarija's Guest of Honor to Alexey Miller.
In 2007 Gazprom and state-owned petroleum company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) signed a Memorandum of Understanding. Gazprom's interests in the Bolivian projects are represented by Gazprom EP International Services B.V., a specialized company for upstream projects outside Russia.
Gazprom in partnership with Total E&P Bolivie and TecPetrol de Bolivia participates in the projects pursuing the development of the promising oil and gas Ipati and Akio blocks, where the Incahuasi field is located. Gazprom holds a 20 per cent stake in these projects, Total E&P Bolivie – 60 per cent, TecPetrol de Bolivia – 20 per cent.
Gazprom together with Total E&P Bolivie also implements a hydrocarbon exploration project in the Azero block. The project's shareholding structure at the stage of exploration is as follows: Gazprom – 50 per cent, Total E&P Bolivie – 50 per cent.