Bolivia foresees increase in investments in energy sector

RIO DE JANEIRO, BRAZIL – The Bolivian Minister of Hydrocarbons and Energy, Franklin Molina Ortiz, announced some of the actions and increases in investments to be carried out on Thursday 2022 to continue with the plan to revive the sector.

The high official affirmed that he would increase the investment in the sector to 400 million dollars destined for the exploration and exploitation of hydrocarbons to increase gas and oil production.

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Likewise, he advanced that by April of this year, the pilot phases with Direct Lithium Extraction technology should be concluded; and the companies with which the strategic alliance to industrialize this mineral will be consolidated will be defined.

The minister explained that it is expected to start exporting electricity to Argentina this year once the project named Juana Azurduy de Padilla 132 kW Bolivia – Argentina Transmission Line is completed.

The head of the energy portfolio emphasized that in 2021 several projects were revived in the sector, which managed to reactivate it after the severe damages suffered during the de facto government of Jeanine Áñez.

Molina Ortiz added that in 2022 the results of the work would be seen with greater exploration, industrialization, and the transition of the energy matrix.

“After the recovery of democracy, by mandate of our president Luis Arce, we implemented a comprehensive plan to bring the energy sector out of the ruins,” said the official who added that thanks to this plan, lithium, electric, nuclear, and hydrocarbon projects were revitalized.

Bolivia exploits minerals such as gold, lithium (of which it has one of the largest reserves in the world), silver, copper, among others. Mining and hydrocarbons are two of the main productive activities of the Andean nation.

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