Peru Energy Min: Enough Gas For Export And Domestic Market
June 18 2010 - 10:58AM
Dow Jones News
Energy and Mines Minister Pedro Sanchez said Friday that exports
of liquified natural gas won't leave Peru's domestic market
undersupplied.
"We have an enormous amount of room to meet export
requirements," Sanchez said on RPP radio.
This week civil and political groups organized widespread
protests in southern Peru demanding that planned gas exports be
stopped, and that gas from the Camisea fields be shipped to their
region before exports start.
Late Thursday, David Lemor, an official with the private sector
consortium known as Peru LNG, which will ship the LNG, said in a
television interview the first natural gas consignment should leave
in the next few days, bound for Spain.
Peru LNG has a contract to receive 4.2 trillion cubic feet of
natural gas over the next 18 years from the Camisea fields in
southern Peru.
The consortium comprises Hunt Oil Co., SK Energy Co.
(096770.SE), Repsol YPF SA (REP, REP.MC) and Marubeni Corp.
(MARUY).
Repsol Comercializadora de Gas SA has a contract to export the
LNG. It has a long-term contract to ship LNG to Mexico's Federal
Electricity Commission, although the regasification plant there
isn't ready yet.
Lemor was quoted as saying gas exports to Mexico would start at
the end of 2011. He also said exporting gas was the best way of
attracting exploration and developing gas reserves.
-By Sophie Kevany, Dow Jones Newswires; 51-198-903-8043;
sophie.kevany@dowjones.com
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