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
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
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