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Andean Group - August 2024
Major gas discovery raises hopes in Bolivia
Bolivia’s struggling natural gas sector received a shot in the arm on 15 July when President Luis Arce announced the discovery of a major gas reserve in La Paz department. Arce described the newly discovered Mayaya gas field as the country’s most important hydrocarbon discovery since 2005, containing an estimated 1.7trn cubic feet (TCF) of gas. This, he said, would bring in an additional US$6.8bn for the country’s struggling economy. The discovery comes amid long-running concerns that Bolivia’s gas reserves are running out following years of underinvestment in exploration.
