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Peru Gas Restrictions Won’t Curb LNG Exports, Perupetro Says

Peru’s Camisea Group, led by Hunt Oil Co. and Pluspetrol SA, can keep exporting liquefied natural gas at current rates even after the government restricted one of the Camisea field’s two blocks to domestic industry, according to the country’s state oil contracting agency.

“Exports will continue as long as the country doesn’t require more gas for local industry,” Perupetro President Rosa Ortiz said today at a press conference in Lima. “This is a country that respects contracts.”

Peru will also seek bids at the end of November for 36 oil and natural-gas exploration areas in the Amazon jungle, highlands and Pacific coast, Ortiz said.

Peru had planned to halve its 450 million cubic feet daily gas shipments to Mexico after allocating reserves from Camisea’s Block 88 to supply domestic industry. LNG exports from Block 56 are “normal” and talks with the government continue, Hunt Oil country manager Barbara Bruce said Sept. 5.

The government won’t negotiate with companies including Pluspetrol, Maple Energy Plc and Interoil Exploration and Production ASA for their expiring oil and gas blocks, which will be put up for bids, Ortiz said. State oil company Petroperu SA will take a minimum 25 percent stake in both the expiring contracts and the 36 new blocks, she said.

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