Bolivian Gas Nationalization

Bolivian Gas Nationalization refers to the government's decision to take control of the country's natural gas reserves, formerly operated by foreign companies, in 2006. This move aimed to ensure Bolivia benefits more fully from its natural resources, increase state revenue, and promote national development. By nationalizing, the government sought to reduce foreign influence, improve energy policies, and prioritize domestic needs. The process involved renegotiating contracts, often leading to increased government oversight and revenue sharing. While it stirred international controversy, the overall goal was to empower Bolivia to manage its natural resources more equitably and sustainably.