One year after President Castillo announced in his first message to the nation the urgency of “recovering” gas from Camisea, and ten months after former premier Guido Bellido delivered a letter to the headquarters of his majority shareholder, Pluspetrol , the renegotiation of the deposit contracts is at an impasse.
In October 2021, the Executive installed a multisectoral commission to define the guidelines with which, later, it should sit before the consortium. And, although the suggestions published in January included negotiating “exploration commitments, including the drilling of new wells” with the contractors for blocks 88 and 56, progress from then on has been nil.
Mass use of gas from Camisea would reduce the cost of the basic food basket and would benefit the areas with the highest rates of poverty. Photo: The Republic
At least, from Pluspetrol they consider that the matter of renegotiation is a page turned, according to sources close to the consortium that turned 18 this week, and also recognize that nothing has been advanced since Bellido’s letter and there were no more meetings to discuss the subject. .
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Instead, they welcome the fact that the government has capitulated and “recognizes the efforts being made by the private sector” to support overcrowding, Pluspetrol’s External Affairs manager, Janinne Delgado, told La República.
“We as a consortium submit to the regulatory framework of the Constitution and contracts. It is within this framework that we have handled ourselves”, stressed the official.
Precisely, one of the issues raised was the promotion of greater investments in exploration that guarantee future reserves because, in practice, we are still consuming the gas that was discovered (and by chance) in 1984, as the specialist in energy issues Aurelio Ochoa.
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The Perupetro issue
“Renegotiation has been so urgent for this government, that until today Perupetro’s board of directors has not been renewed,” says Ochoa. Perupetro is the entity responsible for managing the hydrocarbon lots and negotiating them on behalf of the State, that is, the official intermediary to sit with Pluspetrol.
“We believe that it is important that in general all the heads of public entities are not headless and that officials who have the track record to be in the positions are effectively appointed,” Delgado said when asked about Perupetro’s board of directors.
With a million Peruvians who would be left out of the overcrowding by law 679 approved in Congress -according to the SPH-, Ochoa also recalls the other crucial point for the renegotiation that is dormant today: the royalties from the export contract, which turn out to be much less than the gas consumed in the country.
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The specialist refers that the collection formula according to the final price in export destinations leads Peru to obtain 37.24% of its royalties for gas consumption in the domestic market, much more than for sales to international markets in full world shortage due to war.
“Expectations have been generated, particularly in the south, and everything has practically come to nothing,” he laments.
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The report of the multisectoral commission of the Executive also proposed relaunching the southern Peruvian gas pipeline (GSP) -today SITGAS- with the original layout to “generate less time in its development and execution.”
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Between January and May, Peru exported 74% more gas to Europe than in 2021 due to the war: 1.8 million MT.
According to a Reuters report, 15 of the 26 shipments went to Spain and the United Kingdom, while the rest docked in Asia, a region that last year was the preferred market for Peruvian LNG amid a global escalation in energy.
Recently, Pluspetrol and Cálidda developed a voucher delivery program for the purchase of gas-powered buses and trucks.
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Fire. Camisea has a contract until 2040 and the gas it produces generates 40% of the country’s electricity.
Chance. Camisea, due to the lack of an internal market, reinjects more than 400 mcfd of the resource into blocks 88 and 57.
Infographic – The Republic
Infographic – The Republic
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