Camisea IDB loan approved; Ex-Im denies other loan

After delaying a decision three times, the Inter-American Development Bank (IDB) has approved $135 million in financing for the completion of the pipeline portion of the $1.6 billion Camisea natural gas megaproject in Peru's Amazon rainforest.Meanwhile, the Export-Import Bank of the US (Ex-Im Bank) denied an application for a $200 million loan guarantee to support US exports for the Camisea natural gas project.Camisea, which involves upstream and downstream portions to develop and transport to market 13 tcf of gas, stands 68% completed (OGJ Online, Aug. 4, 2003).Pluspetrol Peru Corp. SA, operator of the upstream portion of the project on the eastern slopes of the Andes, announced that...

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