Less than a decade ago, it looked as though Bolivia's fortunes were about to change. Vast reserves of natural gas discovered after a flood of private investment in the 1990s suddenly gave South America's poorest country the chance to be at the hub of economic integration in the region.

A new pipeline guaranteed regular sales to power-hungry Brazil. A market also seemed assured in neighbouring Argentina. By developing liquefaction plants, allowing it to ship liquefied natural gas (LNG), it seemed Bolivia could dream of opening markets farther afield.