YPFB, Gazprom Agree to Form E&P Joint Venture

Bolivia's state oil company YPFB is planning liquefied natural gas (LNG) projects with Russia's state gas giant Gazprom as one of several possible joint ventures between the companies in which total investment would be US$2bn, YPFB said in a statement.

During meetings in the week June 5, the two companies discussed the possibility of exporting LNG through Chile or Peru. YPFB and Gazprom's future JV would likely pursue exploration and production activities in traditional zones such as Bermejo and Camiri as well as non-traditional zones north of La Paz, government news service ABI reported.

The companies also are considering the exploration of 11 blocks, the installation of a liquefied petroleum gas (LPG) plant, and the development of studies for a pipeline connecting the country with Paraguay--from where Bolivia could also export its gas.

Although the companies have not signed a formal agreement, they have scheduled their next meeting, a YPFB spokesperson told BNamericas.

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