SANTA-CRUZ (Bolivia), November 24. /TASS/. Gazprom EP International and the Bolivian state-owned company Yacimmientos Petroliferos Fiscales Bolivianos (YPFB) will set up a joint venture to develop the natural gas motor fuel infrastructure in the country.
The relevant memorandum was signed on Thursday on the sidelines of the summit of the Forum of Gas Exporting Countries, which is held in the city of Santa Cruz, a TASS correspondent reports.
Also, Gazprom EP International informed the country’s Energy Ministry on the results of the project on updating the general plan for the development of the oil and gas industry in Bolivia until 2040.
Gazprom and YPFB signed a strategic cooperation agreement in 2016. Last September, Gazprom, as part of the consortium, put into operation the Inkauasi deposit located in Bolivia. The Russian company’s investments in the project amounted to $350 mln. The Russian company also takes part in the development of licensed gas blocks Ipati, Acero and Akio.
In October this year, YPFB and Gazprom EP International agreed to cooperate on marketing of Bolivian gas in Brazil and Argentina.