New Gas Fields Open in Peru

Peru has inaugurated the second phase of the Camisea natural gas project to pump gas for export from new fields in the southern Amazon.

President Garcia says that the 3.4 trillion cubic feet of natural gas discovered in the new fields boosts Peru's total reserves to 14.8 trillion cubic feet.

Garcia says the international consortium running Camisea invested US$875 million to open the new fields and expand a processing plant on the coast.

Garcia said Monday that the consortium headed by Argentina's Pluspetrol and Texas-based Hunt Oil has invested over US$2 billion in the project.

Environmental groups have criticized the consortium for five ruptures of the pipeline carrying gas to the coast since operations began in 2004.

Author: Jo Amey