RIO DE JANEIRO, BRAZIL – The Bolivian state-owned oil and gas company YPFB has agreed to sell 2.2 million cubic meters of natural gas a day to the Russian company for a period of 20 years, starting in 2023.
“Today we are building a new market for Bolivian gas,” said Luis Alberto Sánchez, Bolivia’s Hydrocarbons Minister.
The government also agreed with Acron to establish a company to sell urea in Brazil. Acron is one of the largest fertilizer producers in the world and supplies urea to Brazilian farmers.
In addition, YPFB will also hold a twelve percent stake in the Russian company’s plant in Três Lagoas (MS), with the option to increase its stake to thirty percent.
The Bolivian minister also said that YPFB and Russia’s Gazprom had completed negotiations on a contract to explore the Vitiacua area, a natural gas reservoir with renewable resources estimated at 2.13 trillion cubic feet.
According to the authority, the project would require an investment of approximately US$1.1 billion and could produce some 12 million cubic meters of gas per day by 2028.