The President of Bolivia, Evo Morales, will visit Moscow on February 16th to sign a number of agreements with Russia, including the energy sector, a Bolivian official said on Wednesday.
"A host of agreements on investment and cooperation in energy, including with Russia's Gazprom, will be signed on February 16," said William Donaire, deputy minister for the commercialization and industrialization of oil and gas. Gazprom and Bolivia's state hydrocarbons company YPFB are expected to sign a memorandum of understanding during the visit which was announced by Morales in December.
Gazprom, is interested in Latin American markets. Bolivia is second after Venezuela in terms of gas reserves in Latin America. Its natural gas reserves are largely concentrated in the southeast of the country at four major deposits: Margarita, San Alberto, Sabalo and Itau.
President Morales signed a decree on nationalizing the country's gas industry in May 2006.