Bolivia says running out of natural gas, its top earner - Times of India

LA PAZ: Bolivia is facing a depletion of

In today's blog, we will discuss a senior official's statement regarding the main source of income for a certain country. According to this official, the country's primary income comes from a specific sector. However, they have been facing a decrease in production since 2014, which can be attributed to the insufficient investment made in the search for new reserves.

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, had also cautioned about a decrease in production until reaching its lowest point.

During a public event held in Oruro, the president revealed that a significant depletion of gas reserves has been experienced. Regrettably, these reserves have not been replenished, leading to a limited ability to produce additional gas in the country. According to the most recent data, Bolivia's natural gas reserves are estimated at 8.95 trillion cubic feet. Over the years, production has declined from 59 million cubic meters per day in 2014 to a mere 37 million today, as reported by Dorgathen. Aside from catering to domestic demand, Bolivia also exports gas to Argentina and Brazil.

As per the Bolivian Institute of Foreign Trade, the sales of natural gas generated approximately $2.97 billion in revenue in 2022, surpassing the income generated by the mining or agriculture sectors. Dorgathen mentioned that a sum of $669 million will be allocated for exploration activities this year. In 2006, during Evo Morales' presidency, Bolivia nationalized its natural gas reserves which were previously controlled by Spanish, British, Brazilian, and Argentine companies. Morales stated that Bolivia could supply gas to the entire region as it had abundant reserves.