Bolivia’s Minister of Hydrocarbons and Energy, Franklin Molina, announced discussions with Brazil’s state-run oil company, Petrobras, on potential deals encompassing natural gas, fertilizers, lithium, and gas exploration investments.
The talks aim to continue Bolivia’s gas exports to Brazil and amplify the amounts.
Future investments to boost gas production are also on the agenda.
An elite Petrobras delegation is set to visit Bolivia’s city of La Paz by the end of August, to engage with Bolivia’s state-owned oil company, YPFB.
This dialogue was initiated during a meeting between Bolivian President Luis Arce, and Petrobras’ head, Jean-Paul Prates, during the IV Amazon Summit of State Leaders in Brazil’s Belém city.
Both nations are eager to progress their energy agendas, building upon the understandings reached in Belém.
Molina pointed out that the exploration projects portfolio had already been shared and will be a priority topic in the upcoming YPFB-Petrobras session.
Brazil is a key market for Bolivia, benefiting its revenue. Investing in hydrocarbon exploration revitalizes Bolivia’s economic health.
Bolivia, known for its vast gas reserves, also requires foreign investments for thorough exploration. Concurrently, Petrobras is interested in Bolivia’s lithium-rich salt flats, eyeing industrial-scale projects.
According to a recent report presented by President Arce, Bolivia boasts 23 million tons of lithium reserves, particularly in the Uyuni salt flats.
This positions Bolivia as the top global holder of lithium, followed by Argentina and Chile, solidifying the “Lithium Triangle” that houses over 60% of this crucial global resource.