How much natural gas do we have left? | ¿Cuánto gas natural nos queda?

Editorial, Los Tiempos:

The volume of gas reserves in Bolivia is a mystery, at least for those who are not part of the state instances of the hydrocarbon sector.

This lack of information violates Law 3740 of Sustainable Development of the Hydrocarbon Sector, enacted in August 2007, whose article 7 establishes that “YPFB, until March 31 of each year, must publish the level of certified reserves existing in the country as of January 1 of that year (…)”.

Law 3740 establishes that YPFB, “through international bidding, must contract specialized companies in the certification of hydrocarbon reserves, to certify the effective level of said reserves in the country.” And it also authorizes the state oil company to “take all necessary actions that allow it to carry out the certification of hydrocarbon reserves on its own behalf (…)”.

The mystery surrounding our certified gas reserves is not new, “in August 2018, the Canadian firm Sproule International Limited made the last report on Bolivian reserves which reached 10.7 trillion cubic feet (TCF) of proven natural gas reserves with a duration of 14.7 years, however, official reports establish that in that year they reached 8.95 TCF,” Los Tiempos reported just over a month ago, reproducing a wire from the EFE news agency.

“We had reserve certification in 2008, in 2013, in 2017, in 2018 and now this year we are going to have a new reserve certification,” reported the president of YPFB in February 2023.

And last March 17, the same authority assured, regarding certifications, that “in these days we should already be giving the results. We are going to have the result of December 2022, and December 2023. Already for the first week of April we should have the data on the reserves of 2023.”

If this announcement is fulfilled, it will surely confirm what the president of the State said in August of last year, when he stated that since 2014 “there has been a decline in production (of gas) which unfortunately has been falling until hitting rock bottom” and that the country “does not have the capacity to produce more”.

And yesterday, the Minister of Hydrocarbons and Energy stated that, in past administrations, the data on gas reserves were “inflated”, for which “some people” must give explanations.

It seems evident that the reserves of this resource are scarce, while domestic consumption increases. In the first half of last year, it grew by 10% compared to a similar period in 2022, according to YPFB’s report.

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