EDITOR’S NOTE: In an exclusive interview for Oil & Gas Financial Journal, the Focus Reports editorial team interviews
Álvaro García Linera, Vice President of Bolivia, who discusses
the country’s plans, goals, and steps the South American nation
is taking in hopes of becoming a premier supplier of gas and
energy to Latin America and the world.
Bolivia’s Vice President
Álvaro García Linera
(left) is shown with Evo
Morales, who has served
as President of Bolivia
Bolivia seeking partners, investors
SOUTH AMERICAN NATION HOPES TO BECOME PREMIER GAS, ENERGY SUPPLIER
OIL & GAS FINANCIAL JOURNAL: This year marks the
tenth anniversary of President Evo Morales’ nationalization of hydrocarbon resources in Bolivia. From your
perspective, what have been the results of this action?
ÁLVARO GARCÍA LINERA: The first result was the improvement
of the country’s income, which is reflected in increased investment in sectors such as infrastructure, health and education,
which was an old debt that the government had with the people
to improve all these aspects.
The second result was increased diversity in hydrocarbon
activities in Bolivia because we began to venture into the industrialization of gas. This year we brought a urea and ammonia
plant, and in four years we plan to launch a polypropylene and
polyethylene plant. Depending on the fluctuations of the market
in the next 10 years, we are contemplating the production of
ethylene using soft plastics.
The third result has been an increase in foreign investment
into Bolivia, thanks to the political and social stability that the
country has achieved. This new environment has encouraged
companies already present to extend or renew their contracts
and has promoted the increase of new foreign companies coming
to Bolivia. This action has increased the overall foreign investment in the country.
In the past, the regimen of property and distribution of profits
were badly proportioned, creating injustice and political instability. Companies were able to generate very high profits, but