Bolivia prez announces natural gas discovery, promising boon for country ...Middle East

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Bolivia prez announces natural gas discovery, promising boon for country
source : Business Standard ( Middle East ) () 57
Bolivia's embattled president on Monday announced the discovery of vast natural gas reserves, describing it as the biggest find in nearly two decades that could help the cash-strapped country reverse its falling production. President Luis Arce called the trove just north of the capital a mega field," saying it has some 1.7 trillion cubic metres of gas at a likely market value of $6.8 billion. He said the field named Mayaya X-1 is way to revive the gas industry. That was the engine of robust growth in the early 2000s, a period of booming exports and declining poverty that experts have termed Bolivia's economic miracle. This marks the beginning of a new chapter for the northern sub-Andean re

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