Bolivia Discovers Major Natural Gas Reserve

Bolivian President Luis Arce announced the discovery of a significant natural gas field, Mayaya X-1, just north of La Paz, containing 1.7 trillion cubic meters of gas valued at $6.8 billion. This find is deemed the most substantial since 2005 and could reinvigorate Bolivia's gas industry, historically vital for economic growth. The new field is part of Bolivia's efforts to counter declining gas production and fuel shortages, potentially making it the country's third-largest producing field. Despite previous challenges and a shift from being a gas exporter to importer, this discovery offers hope for Bolivia's energy sector and economic outlook.