Press Release

Peru is capable of installing the first petrochemical plant on the southern Pacific coast

Bnamericas Published: Thursday, October 27, 2022
Peru is capable of installing the first petrochemical plant on the southern Pacific coast

This Perupetro release was published using machine translation.

Peru has the necessary gas to install the first petrochemical plant on the South Pacific Coast to supply the local market and export fertilizers to the countries of the region, PERUPETRO SA said today.

He indicated that the legal framework already exists for the installation of a petrochemical plant and the sufficient resource (natural gas), it is only necessary to make the decision so that this project, which dates back more than a decade, can be carried out.

Peru produces 1.2 billion cubic feet of natural gas per day, of which approximately 450 million are reinjected (returned to the well), due to lack of demand and infrastructure.

"These 450 million cubic feet could be used for the petrochemical plant, we have the gas to make it possible," he emphasized.

PERUPETRO indicated that, if the decision had been made in previous years, Peru would not have had the fertilizer crisis that we are going through.

In addition, he explained that the growth in demand also encourages greater gas exploration in the country, since we have important prospective resources in the subsoil, but an intensive exploratory drive is required.

Prospective resources are the volumes of gas that are potentially recoverable, but have not yet been discovered.

PERUPETRO specified that the natural gas reserves in the country amount to 13.3 TCF (trillion cubic feet) and prospective resources for 30.8 TCF.

"The gas reserves give us an energy autonomy of almost 22 years, however, there is an important potential to discover that we cannot lose sight of, we have gas basins where the granting of incentives is required to promote exploration", said the manager General of PERUPETRO, Daniel Hokama.

Likewise, the impulse to massification cannot be postponed, since the natural gas coverage index in the country is only 10 percent, while in countries such as Colombia and Argentina, the levels reach 53 and 61 percent, respectively.

PERUPETRO spoke during the meeting of the Annual Council of the International Gas Union (IGU), which for the first time was held in Peru, and represented an important opportunity to put the country in the eyes of the leaders of the largest gas companies in the world, promote its exploratory potential and share experiences on the actions that are being implemented in other countries to promote their development.

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