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The George Washington University Washington D.C. March - 2002

Overcoming barriers to investment in the. A view from the Southern Cone. The George Washington University Washington D.C. March - 2002. Scenario. Since Bolivia is a gas exporting country, my presentation aproaches the subject from the point of view of gas reserves and gas transportation.

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The George Washington University Washington D.C. March - 2002

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  1. Overcoming barriers to investment in the A view from the Southern Cone The George Washington University Washington D.C. March - 2002

  2. Scenario Since Bolivia is a gas exporting country, my presentation aproaches the subject from the point of view of gas reserves and gas transportation.

  3. WORLDWIDE NATURAL GAS RESERVES 4.73% 37.89% 3.01% 4.90% 6.91% 7.46% 35.10% Middle East Far East Africa Eastern Europe Western Europe North America Latin America Source: OGJ Worldwide Production Reports 1-Jan-01 Bolivia De GOLYER & Mac Naughton January 2001

  4. LATIN AMERICA: NATURAL GAS RESERVES 46.4 % 1.4% 1.2% 2.2% 2.5% 4.2% 17.3 % 6.7% 9.6 % 8.6% Chile Colombia Ecuador Brazil Peru Argentina Trinidad & Tobago Bolivia México Venezuela Source: OGJ Worldwide Production Reports 1-Jan-01 Bolivia De GOLYER & Mac Naughton January 2001

  5. Natural Gas : Certified Reserves in South America % Country TCF 1.8 3.2 5.3 10.9 20.0 58.8 4.4 8.0 13.3 27.4 50.0 147.6 * Chile Brasil Perú Argentina Bolivia Venezuela TOTAL 100.0 250.7

  6. 50.00 46.83 32.21 Growth since 1997 800% 8.58 6.62 5.69 Fuente: YPFB

  7. Inversión Total 5 –6 billones de US$ 4,240 Millas naúticas West Coast Australia 9,900 Millas naúticas Islas Sakhalin 4,000 Millas naúticas

  8. S.A. Hydrocarbon Position ExporterImporter Oil GasOil Gas VenezuelaYes Yes Colombia Yes Guyana Yes Ecuador Yes Bolivia Yes Yes Argentina Yes Yes Peru Yes Yes Chile Yes Yes Paraguay Yes Yes Uruguay YesYes Brazil Yes Yes

  9. Hydrocarbon Supply and Demand Hydrocarbon importing countries in S.A. purchase their oil requirements from Venezuela, Colombia or Ecuador. Brazil is the only country with major purchases from the international market. Gas is exported from Bolivia and Argentina Conclusion: S.A is capable of supplying its hydrocarbon needs with significant export surpluses

  10. Mexico – U.S.A. interconnections Transportation System Existing International Gas Pipelines Cuiabá Bolivia - Brasil

  11. Atacama NorAndino GasAndes International Gas Pipelines Pacífico Methanex

  12. Uruguaiana International Gas Pipelines

  13. Colombia - Venezuela Mexico – Itsmo Centroamericano De la Integración Bolivia - Chile Bolivia - Paraguay Projected Gas Pipelines .

  14. Conclusion: To have a free flow of energy among the countries it is necessary to promote the physical integration of gas pipelines. Transportation System Investments in physical integration will encourage the energy integration in the region

  15. To overcome the Investment barriers • The investing Corporation needs: • Significant hydrocarbon potential • Reasonable Infrastructure • Stable Laws of Hydrocarbon • Political stability • Contract and Tax stability • Reasonable Return on the Investment • Acceptable Environmental Laws • Compatible Regulations

  16. To overcome the Investment barriers • The host country needs: • Technical and Financial Capabilities • Parent company guarantees • Government take between 35-50% • Surtax inclusion • Apply country regulatory system • Apply country environmental Law • Accept and recognize social needs of the people

  17. Transfers UPSTREAMactivities to private investment through joint venture contracts. • Bolivia, Law 1689 Establishes a transparent process for the nomination of exploration areas. Eliminates any restrictions for the import, export and domestic marketing of hydrocarbons and its byproducts. Opens DOWNSTREAM activities to private sector investment. Obstacles to investment The absence of compatible regulations as well as the disparity of legal and institutional frameworks Restrictions of different hydrocarbons laws

  18. Mexico Construction, operation and ownership of systems. Marketing, exports and imports Open access to the pipeline system Obstacles to investment Restrictions of different hydrocarbons law Exploration, Exploitation and Marketing are activities reserved to the State Transport, Storage and Distribution: activities open to private investment

  19. State Oil companies, that increase their participation in the economy Brazil, Mexico, Venezuela and Ecuador A comparison between two approaches Two political trends clearly defined coexist in Latin America: Increased their revenues due to the high oil prices

  20. Countries where privatization of state owned companies took place Argentina, Bolivia and Peru A comparison between two approaches Two political trends clearly defined coexist in Latin America: Increase in the investment in exploration and exploitation over the last five years

  21. Protection of the land Indigenous Territories Protected Areas Exploration & Exploitation Approximately 40%,420.000 sq km, of Bolivia´s territory is closed for investment

  22. The Caño Limon oil pipeline, 230.000 bpd of capacity, runs 780 kilometres from Colombian's oil fields north-eastern Arauca department, near Venezuelan border, to the port of Coveñas Caño Limon is jointly operated by Colombian state oil company Ecopetrol and the U.S. oil company Occidental Petroleum Terrorism Colombian case

  23. 1967: Torrey Canyon off land´s end in England spilled 830,000 barrels. 1978: Amoco Cadiz off the Brittany coast of France spilled 1.6 million barrels of oil. 1989: Exxon Valdez in Alaska spilled 240,000 barrels. Terrorism Since 1986 there has been 700 attacks again the pipeline which caused an overalll spillage of 2.2 million barrels of oil. These attacks can be compared with the worst marine spills:

  24. Infrastrcture is required to continue with the process of integration thus making investments possible. To overcome barriers to private investment in energy it is crucial to promote the sustainability of democracies. Equilibrium between an open market economy and the social responses to satisfy the needs of the countries. Concluding remarks

  25. Concluding remarks Terrorism is a barrier to which we do not have an answer today but it is related to education and to the understanding of a new social state of affairs in the world .

  26. Concluding Remarks The understanding of the major corporations of this new social state of affairs will help in overcoming the investment barriers in Latin America

  27. www: energia.gov.bo email: enerhid@energia.gov.bo

  28. Pipeline Bolivia - Brasil Indigenous Territories Protected Areas Protected Areas Indigenous Territories Implementation of the Indigenous Development Plan (US$ 2 milllion) Participation in the Trust Fund (US$ 1.7) Pipeline San Miguel – San Matías Modification of the route to reduce the impact on the Chiquitano forest Indigenous Territories Protected Areas Implementation of the Indigenous Development Plan (US$ 2.0 million) Constitution of the foundation for the Chiquitano forest (US$ 20 million) * Program of reforestation Protection of the land – Bolivian case *: OPIC’s requirement

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