Mikhail Likhachev, Director General of Gazprom Gazomotornoye Toplivo, and Oscar Javier Barriga Arteaga, Acting Executive President of Yacimientos Petroliferos Fiscales Bolivianos (YPFB), signed a Memorandum of Intent on November 24 to set up a joint venture in Bolivia. The parties’aim is to develop the production and marketing infrastructure for compressed (CNG) and liquefied natural gas (LNG) to be sold as a vehicle fuel.

The joint venture is also set up to establish autonomous gasification in the Plurinational State of Bolivia and other Latin American countries.

The signing took place at the 4th Gas Exporting Countries Forum Gas Summit in Santa Cruz, Bolivia. The ceremony was attended by Evo Morales, President of Bolivia, Luis Alberto Sanchez, Bolivia’s Minister of Hydrocarbons and Energy, and Alexander Novak, Minister of Energy of the Russian Federation.

OOO Gazprom Gazomotornoye Toplivo, a subsidiary of Gazprom, produces and distributes fuel. It also creates infrastructure for development and construction of gas filling stations. The company was founded in 2012 and is based in St. Petersburg, Russia.

YPFB is the state-owned oil and gas company of Bolivia.

Source: Gazprom