Gas: Bolivia and Gazprom sign exploration deal

The Financial Times reports Russian gas giant Gazprom has signed a deal with YPFB, Bolivia’s state-owned energy company, for the “exploration and exploitation” of gas reserves in Bolivia.

In its initial phase, the contract will mean a “strategic alliance” between both companies to start research in large areas - mostly in the gas-rich region of Tarija - that are thought to promise considerable reserves.

Although no official figure for the deal was issued, a Bolivian government official last year told the Financial Times the contract could amount to $2bn (€1.3bn, £1bn).