Peru's gas import plans draw fire
The latest meeting between Bolivian and Peruvian energy authorities where officials agreed to advance energy integration, in particular the shipment of Bolivian gas to Peru, has raised flags among stakeholders in the latter country.
"Recent announcements by the government of importing oil and gas from other countries to meet future domestic demand, instead of betting on the national hydrocarbons industry and placing value on its enormous resource potential, is a misguided policy that will make our country a net importer and put its energy security at risk," Peru hydrocarbons industry group SPH said following the meeting in the Bolivian city of Santa Cruz de la Sierra.
The association points out that Peru spent over US$5bn to import hydrocarbons in the first nine months of 2018, and reiterated a call for the approval of the new hydrocarbons framework law to boost investment.
SPH president Felipe Cantuarias highlighted that only four of Peru's 18 basins with hydrocarbons potential are exploited and that important discoveries have been made in regions such as Puno which – according to the industry representative – officials want to make dependent on Bolivian gas.
One of the proposals that Bolivia's hydrocarbons minister Luis Alberto Sánchez and Peru's energy and mines minister Francisco Ísmodes Mezzano discussed was the creation of a JV between NOCs YPFB and Petroperú to sell LPG along the countries' border.
Bolivia has stepped up efforts to tap new gas offtakers amid uncertainty over continuing shipments to Brazil and in particular to Argentina, where gas supply has steadily increased driven by production from unconventional reservoirs and led to the export of surplus gas.
Read Regulator suggests restricting Bolivian gas imports and Argentina gas export watch
Bolivian President Evo Morales' push to court new gas clients comes amid the release of new hydrocarbons ministry data which shows a drop in gas production. Bolivian authorities, however, expect an uptick in output as new projects come online.
On Friday, Morales inspected the Boyuy X-2 well in Tarija department that has surpassed 7,600m and is touted as the deepest well drilled to date in South America.
The US$126mn drill project has been underway for 542 days and target depth of 8,000m is due to be reached by May.
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