- Title: BOLIVIA: Country announces LPG exports
- Date: 26th November 2012
- Summary: VILLAMONTES, BOLIVIA (FILE) (REUTERS) VARIOUS OF YPFB OIL WELL
- Embargoed: 11th December 2012 12:00
- Location: Bolivia, Plurinational State Of
- Country: Bolivia
- Topics: Business,Industry
- Reuters ID: LVACJM3EIRVK66LDPUUVK78G5ZTD
- Aspect Ratio:
- Story Text: Bolivian president Evo Morales announced on Monday (November 26) that the country will halt LPG imports and begin exportation to increase national revenues.
"When our plants open in Chaco, Rio Grande and Yacuiba, we are going to start exporting liquid petroleum gas [LPG]. The Ministry of Hydocarbons and the YPFB [state-owned petrol company of Bolivia] will be in charge of the relevant export negotiations. LGP will be exported at international prices and, as a result, bring in more revenue to the country," Morales said during a news conference.
"The liquid separation plant is doing well in implementing the industrialization of natural resources, such as gas, and therefore in this stage the Bolivian economy is improving. The plan is to export 1000 tonnes monthly, starting next week and to gradually increase the amount, especially in the liquid separation plants," added Morales.
In 2006, the newly elected Morales followed through on his pledge to nationalise Bolivia's hydrocarbon sector, one of the world's proven gas reserves.
After Venezuela, Bolivia has the second largest gas reserves in South America.
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