Lula agrees with Paz to accelerate Petrobras-YPFB negotiations for gas exploitation

Brazilian President Luiz Inácio Lula da Silva announced that Brazil and Bolivia will expedite negotiations between their state-owned oil companies, Petrobras and YPFB, to boost natural gas extraction. This decision follows a meeting between Lula and his Bolivian counterpart, Rodrigo Paz, during the Mercosur summit in Luque, Paraguay.

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We decided to accelerate negotiations for the signing of agreements between Petrobras and YPFB in the area of gas extraction.

Lula stated on social media that the accelerated negotiations are crucial for signing new agreements between Petrobras and YPFB concerning gas extraction. Petrobras's president, Magda Chambriand, is scheduled to meet with a Bolivian ministerial delegation in Rio de Janeiro this week to discuss the matter further. These discussions are particularly important given global conflicts that threaten energy supply and availability.

Energy cooperation is a cornerstone of Brazil-Bolivia relations, and Lula emphasized the need to maintain Bolivia as Brazil's primary natural gas supplier. He highlighted Bolivia as a "reliable source," noting the existing 3,150-kilometer pipeline capable of transporting up to 30 million cubic meters of gas daily. Petrobras, which once accounted for 60% of Bolivia's natural gas production, now operates 25% of the country's total output.

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It was necessary to maintain Bolivia as Brazil's largest supplier of natural gas, especially because it is a 'reliable source' and because the two countries already have a 3,150-kilometer pipeline with the capacity to transport up to thirty million cubic meters per day.

Beyond energy, President Paz also committed to sending a delegation to Brazil to address shared interests concerning the Amazon region. During their meeting, Paz updated Lula on his progress in dialogues with Bolivian social movements to resolve the country's road blockade crisis. Lula expressed Brazil's solidarity with the Bolivian government, condemning actions that threaten democratic stability and peace, and acknowledged Bolivia's gratitude for Brazil's humanitarian aid.

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The Bolivian president 'told me the importance of the public demonstration made by Brazil in defense of democracy and for the understanding of the parties without violence, and thanked for the humanitarian support of food and medicine sent by the Brazilian government'.