Investments in Peru Camisea Seen at $4.0 Bln by 2011

Projects at Peru's Camisea natural gas field are expected to attract investments of nearly $4.0 bln (2.833 bln euro) within the next four years, the Energy Minister Juan Valdivia forecast on October 9, 2007.

The construction of the Pampa Melchorita plant of the consortium Peru LNG alone is projected to cost some $2.0 bln (1.417 bln euro), the minister added. The plant, whose construction is set to be completed in 2010, is aimed at exporting liquefied natural gas (LNG) from Camisea.

There also are another petrochemical projects in consideration, involving methane use from Camisea's natural gas. The investment value of each of the projects is estimated at over $1.0 bln (708.3 mln euro). However, the current natural gas reserves allow Argentine Pluspetrol, which is the operator of the Camisea field, to develop only two of these projects.

On October 25, Pluspetrol will announce the names of the companies it will contract to sell natural gas for developing their own petrochemical projects.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 10, 2007

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