Bolivia seeks to boost natural-gas exports by cutting local use

Bolivia is seeking to boost the use of renewable energy and export more of its natural gas to cash in on high energy prices. 

The Andean nation is targeting production of three-quarters of its electricity with renewable sources by 2025, Eusebio Aruquipa, director of the energy regulator, said in an interview Tuesday. Currently, about 70% of the nation’s electric power is produced by natural gas. 

President Luis Arce issued a decree this month that restricts use of the fuel by local manufacturers that use it to generate their own electricity. This would allow state-run energy company Yacimientos Petroliferos Fiscales Bolivianos to sell more of the fuel abroad. 

The decision comes as the government seeks ways to boost exports to shore up its international reserves. Bolivia exports its gas via pipeline to Brazil and Argentina. 

Some Bolivian businesses have expressed concern that the measures will increase local electricity costs. The National Chamber of Industry said it is preparing an alternative proposal to be sent to the Government.