Kuntur inks legal stability deal, regulator okays pipeline manual

Kuntur Transportadora de Gas has signed a legal stability agreement with Peru's state agency for promoting private investment ProInversión for its US$1.3bn Gasoducto Andino del Sur gas pipeline project.

Under the deal, the state guarantees the stability of the current tax and labor code, state news agency Andina reported.

In related news, energy and mining investment regulator Osinergmin issued a favorable technical report for the project's design manual.

Kuntur has also submitted the project's right of way study to the energy and mines ministry, and a rates proposal to Osinergmin. In addition, more than 250 workshops have been held with communities along the project's preliminary route.

The pipeline would transport gas from Camisea in Cuzco region to Ilo port in southern Moquegua region. Planners estimate demand of 1.14Tf3 (32.3Bm3) over the 30-year contract.

Kuntur must present the project's EIS in January 2010, after which the government will have six months to evaluate the document

Publication: Business News Americas - English News
Provider: Business News Americas
September 9, 2009

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