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Bolivia meeting to mull future gas, oil industry development

Xinhua, June 19, 2016 Adjust font size:

Experts from at least 12 countries will discuss development of the carbon energy industry at the 6th International Gas and Oil Congress in the Bolivian city of Santa Cruz on July 12-13.

Countries including Argentina, China and the United States will take part in the event, president of the government-owned oil company YPFB Guillermo Acha told reporters on Saturday.

"The topics that will be discussed at this event include the outlook for the gas industry within the context of low prices, opportunities for companies in the gas industry after the COP 21, the new global energy scene and the prospects of the energy demand in China," said Acha.

At the Paris climate conference (COP 21) in December 2015, a historic climate agreement was adopted to hold global average temperature rise to below 2 degrees Celsius above pre-industrial levels and preferably limit the temperature increase to 1.5 degrees Celsius.

The meeting will also discuss opportunities for countries out of OPEC (the Organization of the Petroleum Exporting Countries) amid low oil prices.

According to Acha, the drop in prices is not strange for an industry that has been developing for over a century and producers and consumers will be able to adapt to the new context. Endi