Aug 28, 2015 Bolivian President Evo Morales and his Paraguayan counterpart Horacio Cartes recently came together in the indigenous region of Yacuiba for the inauguration of a new gas refinery plant which the leaders hope will bring cheaper gas supply to the two nations as well as boost exports.
The plant which is located in southeastern Bolivia, was constructed as part of the national YPFB Corporation’s focus on natural gas with support from the Paraguayan government.
While speaking at the inauguration, Paraguayan president, Horacio Cartes said:
“Remember when I asked you in Asuncion what I can do for my people and how you could help me President (Morales) so as to have a more competitive, cheaper gas price above all else for the most deprived, humble people and the president told me that we would work together, Yacimiento Petroliferos Fiscales Bolivianos (YPFB) and Petropar, and today we sign off on this here,” he said.
According to local newspaper La Razon, the plant is one of the three largest facilities in South America and will treat 32.2 million cubic meters of natural gas a day, and 2.2 metric tons of liquid petroleum (GLP).
“Before the liquid separation plant of the Rio Grande, which cost USD 160 million, we used to import LPG (liquefied petroleum gas). We hand over this plant which is smaller and from this moment we have started to export (output). Eighty percent from the plant at the Rio Grande, Santa Cruz is for the domestic market and 20% we have started to export. Now LPG production at this Yacuiba plant is 80% for exportation and 20% guaranteed for the domestic market,” said Bolivian President, Evo Morales.
According to La Paz, the facility which was backed by a $690 million investment is expected to fetch the country over $500 million annually through sales on the global market.