Bolivia’s state-owned energy company YPFB bought a majority stake in Bolivia-based transportation company Transierra from Brazil’s Petrobras and France’s Total for $133 million.
The company, now named YPFB-Transierra, holds a 55.5 percent stake in the Transierra pipeline, Spanish news service EFE said Wednesday.
YPFB-Andina, a joint venture between YPFB and Spain’s Repsol, holds the remaining 44.5 percent stake.
The Transierra pipeline moves natural gas from the southern region of Bolivia to Rio Grande, Bolvia’s main gas export center.
The pipeline has a capacity of 17.6 MMm3 per day.
The purchase was prompted by legislation passed last December requiring YPFB to hold a majority stake in Transierra.
Bolivia now has full control over its domestic hydrocarbon pipelines.
The deal integrates YPFB-Transierra into the state-controlled natural gas transport system that also includes YPFB Transporte, YPFB Logistica, and GasTransBoliviano.
GasTransBoliviano operates Bolivia’s portion of the pipeline that transports gas to Brazil.
YPFB’s head of contract management Edwin Alvarez was named CEO of YPFB-Transierra.
Bolivian President Evo Morales was present at the deal’s signing ceremony.