On 24 July, hydrocarbons minister Jorge Berindoague announced that the study, for a US$3bn gas-to-liquids plant, will be conducted by Repsol YPF of Spain, Ivanhoe Energy of Canada and Syntroleum Corp of the US.
The initial idea is that the plant would have a capacity of 90,000 barrels per day of liquid fuel. This would mean that it would consume about 9tn cubic feet over 25 years. This is equivalent to 17% of the country's known reserves of natural gas.
If the study yields a positive result, the three companies are expected to enter a joint-venture agreement.
These, at 52.3tcf, are the second-largest in Latin America (the largest being in Venezuela).
As Berindoague put it, this project is in line with the government's strategy for the development of fuels: to sell Bolivia's reserves of natural gas via projects located within the country which add value to the raw material.
Worth recalling: Repsol YPF is also a partner (with British Gas and Pan American Energy) in Pacific LNG, the consortium promoting the US$6bn scheme to export natural gas to the US via Mexico.
This scheme is still awaiting the outcome of several studies commissioned by the government. A crucial decision still pending is whether the Pacific coast terminal, where the liquefaction plant would be sited, will be in Chile or Peru.
The consortium favours the Chilean port of Patillos, but there is strong opposition within Bolivia (see main story, above) to the Chilean option, as long as Chile does not cede back to Bolivia its sovereign access to the ocean, wrested from it in the War of the Pacific, in the late 19th century.
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