Peru asks Pluspetrol to up gas for petrochemicals
Peru hopes Argentine company Pluspetrol will promise to supply more of its natural gas reserves in Peru to develop the petrochemicals industry.
Pluspetrol, which heads a consortium that exports gas from the Camisea field in Peru, granted in November the first option on its gas to CF Industries, which wants 100 million cubic feet of gas for urea projects, of the 150 million offered.
Pluspetrol is also negotiating with Protexa de Mexico, for the remaining 50 million cubic feet. The Mexican company plans to use to the gas for methanol projects.
The two companies outbid four other firms interested in investing in the new petrochemical sector of Peru.
"Peru is asking Pluspetrol to look at the possibility of using the reserves to develop the ammonium nitrate industry," said the minister, Pedro Gamio.
The Peruvian government recently elevated proven reserves at its Camisea natural gas field 23.4 percent, to 13.4 trillion cubic feet, from 10.86 tcf.
Peru is persuading foreign companies to invest billions of dollars to develop petrochemical plants, which transform natural gas into ammonium nitrate, used to make explosives and fertilizers - and ethylene, for plastics.
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