Bolivia and Brazil agree to promote investments in exploration, exploitation and transportation through the use of strategic pipeline infrastructure in favor of regional energy integration.

Machine translation was used to published the following Ministry of Hydrocarbons and Energy release

UCOM MHE 07-09-2024.- Bolivia and Brazil reached an agreement to promote investments in exploration, exploitation and transportation, the strategic use of pipeline infrastructure. Recognizing the importance of regional energy integration, particularly electrical interconnection and gas integration, where Brazil and Bolivia play a fundamental role by having strategic infrastructure available that unites three countries, and with the objective of strengthening integration in the region . This agreement also includes various forms of bilateral cooperation in the energy field.

The Minister of Hydrocarbons and Energy of Bolivia, Franklin Molina Ortiz, and his counterpart of Mines and Energy of Brazil, Alexandre Silveira de Oliveira signed the third addendum to the Memorandum of Understanding on energy matters. To achieve this purpose, new activities were incorporated into the Binational Technical Committee (CTB). The two nations decided to collaborate closely to ensure the supply of natural gas to Brazil, thus enhancing their strategic relationship in the energy sector. This alliance will strengthen the capacity of both countries to take advantage of their natural resources and improve energy security in the region.

The Binational Technical Committee, in charge of identifying and evaluating opportunities and projects to benefit the energy, agricultural and industrial complementarity and integration between Brazil and Bolivia, will operate under principles of rationality, efficiency and sustainability. It will also monitor and supervise activities. Among the activities of this document are mentioned the evaluation and execution of hydrocarbon exploration and exploitation projects in the basins of Bolivia, with current or new operators, the use of existing or new infrastructure for the transportation of hydrocarbons through pipelines, to address the demand for natural gas in Brazil, and other forms of bilateral energy cooperation agreed in writing between both parties.

Thus, the solid fundamentals in the Bolivian gas industry are recognized in terms of hydrocarbon potential, processing infrastructure and access to the Brazilian market, which classified our country as a “reliable supplier.” It is important to highlight that this addendum does not imply the transfer of gas resources from one party to the other, nor does it affect the sovereign rights of Brazil and Bolivia over their territories and natural resources.

This agreement reinforces the strategic cooperation between Brazil and Bolivia in the energy sector, promoting economic development and regional integration through sustainable and responsible projects.