Honduras will be the subregional headquarters of the Latin American Energy Organization, or Olade, for the 2014-2017 period, the Natural Resources and Environment Secretariat said.

Olade executive secretary Victorio Oxilia and Natural Resources and Environment Secretary Rigoberto Cuellar signed the agreement covering the new office, which will open in March 2014, the secretariat said in a statement.

The Olade projects executed on behalf of the Central American countries - Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama - will be coordinated in Tegucigalpa during the three-year period.

The request for Tegucigalpa to host the office was approved by Olade members at their meeting in May in Quito, the secretariat said.

Oxilia and Cuellar signed the agreement during the 3rd Latin American and Caribbean Petroleum and Gas Seminar held July 16-17 in Tegucigalpa.

Olade, which was founded 40 years ago, is a regional intergovernmental organization that works for sustainable energy cooperation and integration in Latin America and the Caribbean. EFE