Paraguay estimates major natural gas potential in the Chaco

A private energy company says Paraguay’s Chaco could contain an estimated 70 trillion cubic feet of natural gas, potentially placing the region on a scale comparable to Peru’s reserves.

Zeus Energy presented a technical report based on its own prospecting in the Carandayty-Boquerón basin. Mauricio Bejarano, Paraguay’s vice minister of Mines and Energy, stressed that the figure remains an estimated resource, not a certified reserve. He nevertheless said the company’s studies showed “a degree of responsibility and science.”

More exploration will be needed before the claims can be certified and officials can consider monetizing the resource. Bejarano estimated that certification could take three to five years.

“

A TCF is equivalent to 1,000 megawatts of installed capacity for 20 years in combined cycle.

The vice minister described the possible energy value as substantial. “One TCF is equivalent to 1,000 megawatts of installed capacity for 20 years in combined cycle,” he said. Based on the estimate, he said Paraguay could eventually gain reliable thermal generation to support growth using domestic gas.

Bejarano also pointed to the Bioceanic Gas Pipeline as essential for future exploitation. The project is intended to connect Argentina’s Vaca Muerta gas reserves in Patagonia with Brazil’s Mato Grosso do Sul through Paraguay’s Chaco.

“

This gives us great hope that we can have firm thermal generation to sustain our growth in the medium term, from domestic molecules.