Ruling in Peru gas pipeline arbitration case expected end-2022
Madrid-based Enagás expects a ruling in arbitration on the company’s claim involving the Sur Peruano natural gas pipeline project (GSP) – now known as SITGAS – to be issued at the end of next year.
The Spanish natural gas operator provided the update during its third quarter results presentation.
Enagás was part of the GSP consortium whose concession contract was revoked by Peru's government in January 2017 after the concessionaire missed a financing deadline.
“The arbitration process is being carried out according to the established procedural calendar and therefore at Enagás we also continue to be at the disposal of the Peruvian state to reach an amicable agreement,” Enagás executive chairman Antonio Llardén told analysts and investors.
The Andean nation’s government has said it will relaunch the development of SITGAS but many observers highlight the need to first resolve the legal impasse.
When asked about the situation in Peru, Llardén highlighted talks with the government and the push to expand gas coverage.
“Perhaps the newest issue that exists apart from the political declarations that are made every day, is that an inter-ministerial commission has been opened in Peru to study for the first time the need to really take better advantage of the existence of natural gas in the country and take it precisely to the southern areas that are those that do not have gas at this time,” he said. “Well, this is a process that has been opened, it will last a while, but we see it positively.”
The company’s current footprint in Peru covers a 28.9% stake in Transportadora de Gas del Perú and a 51% interest in Compañía Operadora de Gas.
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