LA PAZ – Bolivia’s future energy policy will depend to a great degree on the results of next week’s summit of the Gas Exporting Countries Forum (GECF), the Andean nation’s hydrocarbons minister said on Wednesday.
The GECF gathering in the eastern city of Santa Cruz, the hub of Bolivia’s natural gas industry, represents a great opportunity for the Bolivian government to share insights with policymakers and energy company executives from the other member-states, Luis Alberto Sanchez told a press conference in La Paz.
Bolivia expects during the summit to sign accords with Russian gas giant Gazprom on investment, marketing and services, the minister said.
The conference will also be a venue for discussions with Zonagas, based in Equatorial Guinea.
Sanchez said that he was likewise confident of signing pacts with Qatar, Iran and United Arab Emirates to advance Bolivia’s program of industrializing a growing portion of its natural gas reserves.
He said that his agenda for the summit includes pursuing investment to develop the Madre de Dios and Chaco gas fields, estimated to hold a total of 60 trillion cubic feet of reserves.
The GECF comprises: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela.
Kazakhstan, Iraq, the Netherlands, Norway and Oman are Observer Members.
All 16 of those nations have confirmed that they will send ministerial-level representatives to the summit, according to Sanchez, while several GECF heads of state and government are expected to make an appearance.