Bloomberg News

Peru Will Take Bids for Northern Gas Pipeline, Garcia Says

February 13, 2009

Peruvian President Alan Garcia comments on investment in Peru, the country’s power supply and a natural-gas pipeline concession. Garcia spoke today at the inauguration of Grana y Montero SA (GRAMONC1)’s $50 million natural-gas plant in the northern coastal town of Talara.

On Peru investments:

“Hundreds of international and local companies are going to start up their investments this year, hiring professionals, technicians and operators. Peru has the task of maintaining the highest economic growth in the region.

“Today’s inauguration of this plant is an example of a series of energy, road and agricultural projects that will soon be inaugurated.”

On power supplies:

“We don’t have a power-supply problem. We have enough reserves to cover these ventures and development projects that are under way. The amount of oil exploration contracts and drilling currently under way will confirm more reserves in the Camisea area.”

On the gas pipeline:

“Within a few days, ProInversion will seek bids for a pipeline that will run from Cuzco to the city of Chimbote to integrate the north and the central mining region. This conduit will not only guarantee expansion of industrial and domestic gas consumption but also will show what we can do faced with constant changes in international oil prices.

“We will also have the Andean pipeline from Camisea to Arequipa, Puno and Ilo, developing several gas-industry clusters and petrochemical industries in Ilo, Marcona and Pisco. This will be complemented by additional pipelines from Pisco to Lurin to supply the Conchan refinery.”

To contact the reporter on this story: Alex Emery in Lima at aemery1@bloomberg.net.

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net.


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