Bolivia expects an increase in investments in the energy sector | News

The Minister of Hydrocarbons and Energy of Bolivia, Franklin Molina Ortiz, announced this Thursday some of the actions and increases in investments that will be carried out in 2022 to continue with the revival plan for that sector.

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The senior official stated that he will increase investment in the sector to 400 million dollars for the exploration and exploitation of hydrocarbons in order to increase the production of gas and oil.

Likewise, he announced that by April of this year the piloting phases with Direct Lithium Extraction technology should be completed; and the companies with which the strategic alliance will be consolidated to industrialize this mineral will be defined.

The minister explained that it is expected to start this year the export of electricity to Argentina once the project named Transmission Line Juana Azurduy de Padilla 132 kW Bolivia – Argentina is completed.

The head of the energy portfolio stressed that in 2021 the revival of several projects in the sector was carried out, which managed to reactivate it after the serious damages suffered during the de facto government of Jeanine Áñez.

Molina Ortiz added that in 2022 the results of the work will be seen with greater exploration, industrialization and the transition of the energy matrix.

“After the recovery of democracy, by mandate of our president Luis Arce, we applied a comprehensive plan to get the energy sector out of the ruins,” said the official, who added that thanks to this plan, lithium, electrical, nuclear and energy projects were revitalized. of hydrocarbons.

Bolivia exploits minerals such as gold, lithium (of which it has one of the largest reserves in the world), silver, copper, among others. Mining and hydrocarbons are two of the main productive activities of the Andean nation.