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Gas producers gathered in Bolivia seek formulas to achieve "fair prices"

The main gas supplying countries in the world, which hold 70% of the energy reserves, seek in Bolivia mechanisms to achieve "fair prices" and lower uncertainty about its income caused by the fluctuations of oil in the market.

Santa Cruz (Bolivia), Nov 23 (EFE) .- The main gas supplying countries in the world, which hold 70% of the energy reserves, seek in Bolivia mechanisms to achieve "fair prices" and lower the uncertainty about their income caused by the fluctuations of oil in the market.

This was expressed today by the Bolivian Minister of Hydrocarbons and host of Forum of Gas Exporting Countries (FPEG), Luis Alberto Sánchez, for whom reducing this uncertainty is the "main market challenge" for clean fuel, according to a communiqué broadcast by his ministry.

The forum, which takes place since Tuesday in the city of Santa Cruz (east), is attended by ministers or other representatives of the twelve countries members, and of seven other observer nations.

The appointment was initially intended to be crowned tomorrow with a presidential meeting between participating nations, but it has only arrived to the country the president of Equatorial Guinea, Teodoro Obiang, in power since 1979 and who President Evo Morales decorated today in La Paz.

It is possible that tomorrow he will join the meeting on President of Venezuela, Nicolás Maduro.

On the objectives of the meeting, Sánchez said that studies should be accelerated to establish a methodology to ensure that uncertainty on prices is not affected "in such magnitude by external factors" and that if there is an influence "fair prices are maintained that continue contributing to stability and energy security of a country. "

" In order to face the continuous changes and challenges, the cooperation agreements between all the actors of the exporting and consuming countries must be strengthened, with the purpose of generating and guaranteeing that all parties involved in some way benefit, "Sánchez said.

In the Bolivian case, the fall in natural gas prices Exported to Brazil and Argentina has greatly affected its economy.

In addition, as stated, the gas producing countries must establish "jointly, an adequate methodology that allows to optimize the costs associated with exploration and exploitation activities without affecting the recovery of natural gas and maximizing the benefits of exploitation. "

El official alluded to the fact that countries such as Bolivia questioned that the operating costs of oil companies remain high when gas prices are low, which would affect the development of supply, production and market.

Business leaders, including Repsol president Antonio Brufau, discussed price challenges on the previous day. of natural gas, reaching the conclusion of the same are no longer indexed to the costs of crude oil, but will be measured in a "gas against gas" scenario, according to the geographical regions.

Shale gas or non-conventional gas or liquefied natural gas (LNG), which is traded in methane tankers or tank trucks, represent competition for gas exported by pipelines.

The intergovernmental meeting held in Bolivia also represents countries that control 40% of the world production of natural gas and 60% of the LNG exporters.

Entre the authorities that are on this day in reserved meetings, without access to the press, are the Ministers of Energy and Industry of Russia, Alexánder Novak, of Petroleo de Venezuela, Eulogio del Pino; member countries of the forum are Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, United Arab Emirates and Venezuela.

Azerbaijan, Iraq, Kazakhstan, the Netherlands, Norway, Oman and Peru have the status of observer countries.

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