Camisea Gas Arrives
Peru's President Alejandro Toledo inaugurated in August the $2.69 billion Camisea gas project. The pipeline from the rainforest and over the Andes to export terminals on the Pacific Coast promises to make Peru a net energy exporter as early as 2007. Toledo says Camisea will add one percentage point to Peru's GDP over its 33-year-life while gas exports contribute another percentage point to GDP for 18 years. Camisea has reserves of 1 trillion cubic feet of gas and 600 million barrels of associated gas liquids. Citigroup is financial advisor. Protests from environmentalists and Indian rights advocates led US government agencies to withhold support, but the Inter-American Development Bank has helped finance Camisea.
Barrick OKs Gold Project
Canada's Barrick Gold approved the $1.4 billion-$1.5 billion Pascua Lama gold project on the borders of Argentina and Chile but must...
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