YPFB, Gazprom Sign MOU for Collaboration



Bolivia's state oil company YPFB and Russian natural gas major Gazprom have signed a memorandum of understanding to develop a formal joint work framework, YPFB said in a statement.

The companies will create a coordination committee within the next month to identify projects that could be jointly developed.

The two companies are interested in developing Bolivia's gas reserves throughout the hydrocarbons chain, as well as marketing of products outside Bolivia.

Bolivia has vast gas reserves and aims to increase its production as well as add value to its gas, rather than simply exporting rich gas to neighboring countries.

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