By an OGJ Correspondent
LIMA, Oct. 2 -- Argentina's Pluspetrol Peru SA confirmed that it has agreed to sell 10% of its shares in the Camisea natural gas fields license to Algeria's state-owned Sonatrach along with another 10% interest in the transport consortium in which Sonatrach already holds 11%.
Alberto Moons, Pluspetrol's vice-president for development of international business, said final negotiations were almost complete.
Camisea's natural gas production, scheduled to begin Aug. 9, 2004, will be piped to Lima and to the neighboring port of Callao.
Meanwhile Peru LNG SRL, led by Dallas-based Hunt Oil Co. for partner South Korea's SK Corp, signed a letter of agreement to sell 400 MMcfd of Camisea gas—equivalent to 2.7 million tonnes/year of LNG—to Belgium's Tractebel Electricity & Gas International beginning in late 2007 or early 2008.
Peru LNG has called for bids for construction of a $1 billion liquefaction plant with an initial capacity of 4.4 million tonnes/year of LNG—600 MMcfd of natural gas—at Pampa Melchorita near Cañete, 169 km south of Lima. It will later expend another $800 million for additional wells, pipelines, and other facilities. Hunt presented an environmental impact study to the energy and mines ministry for the plant July 30 and will begin public hearings today.
Tractebel will ship the LNG from the plant and will regasify it in Mexico.
The Peruvian government estimates it will receive $200 million/year from taxes and royalties during the next 20 years.
