Economy & Business - June 2022

BOLIVIA: Hoping to renegotiate Brazil’s gas supply contract

Bolivia’s Energy and Hydrocarbons Minister, Franklin Molina, confirmed on 25 May that the government led by President Luis Arce is seeking to renegotiate a contract under which the state hydrocarbon company, Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), supplies Brazil with natural gas. Molina explained that YPFB president Armin Dorgathen had visited Brazil in the hopes of agreeing a new deal which would set a higher price on Bolivian gas exports. However, Brazil’s President Jair Bolsonaro has reacted angrily to the fact that YPFB would be reducing by 30% (equivalent to 4.5m cubic metres per day) the amount of gas that it supplies to Brazil. Bolsonaro has accused Bolivia of trying to drive up energy prices in order to favour his rival in the October presidential elections, former left-wing president Luiz Inácio Lula da Silva (2003-2011).

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