Bolivia may need to import natural gas by 2028, warns industry chamber

The Bolivian Chamber of Hydrocarbons and Energy (CBHE) has warned that Bolivia could lose its energy self-sufficiency and become a natural gas importer between 2028 and 2030. This projection is driven by a sustained decline in production and a lack of new discoveries.

National gas production has dropped from a peak of 60.8 million cubic meters per day in 2014 to approximately 27 million cubic meters per day currently. The CBHE noted that this decline impacts exports, foreign currency inflows, and state revenue, while potentially leaving the country unable to meet its own domestic demand.

To address this, the Chamber is urging the approval of a new Hydrocarbons Law designed to attract investment. Proposed reforms include establishing clear and stable contracts, increasing legal certainty, reducing bureaucracy, and setting defined timelines for permits.

The CBHE also highlighted the need to rebalance the economic structure. It noted that the current state share, or ‘government take’, can reach between 82% and 95% in Bolivia, whereas regional averages typically range from 50% to 60%. The Chamber argues for a model that ensures adequate state revenue while providing reasonable returns for investors facing high exploration risks and costs.