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Bolivian president to sign energy deal in Moscow

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Bolivian President Evo Morales will pay a visit to Moscow on February 16 to sign a number of agreements with Russia, including in the energy sector, a Bolivian official said on Wednesday.
MEXICO CITY, February 4 (RIA Novosti) - Bolivian President Evo Morales will pay a visit to Moscow on February 16 to sign a number of agreements with Russia, including in the energy sector, a Bolivian official said on Wednesday.

"A host of agreements on investment and cooperation in energy, including with Russia's Gazprom, will be signed on February 16," said William Donaire, deputy minister for the commercialization and industrialization of oil and gas.

The Russian energy giant and Bolivia's state hydrocarbons company YPFB are also expected to sign a memorandum of understanding during the visit which was announced by Morales in December last year, Donaire said.

Russia's Gazprom, which is increasingly looking to the Latin American markets, and France's Total signed an agreement with Bolivia on the joint exploration and production of natural gas in the country in mid-September. Experts estimate investment to reach $4.5 billion.

Bolivia holds second place after Venezuela in terms of gas reserves in Latin America.

Bolivia's natural gas reserves are largely concentrated in the southeast of the country at four major deposits Margarita, San Alberto, Sabalo and Itau.

In May 2006, Morales signed a decree on nationalizing the country's gas industry.

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