Peru LNG project secures $2bn funding, on schedule

03 July 2008 15:49  [Source: ICIS news]

TOKYO (ICIS news)--A $3.9bn project by Peru LNG to produce 4.5m tonnes/year of liquefied natural gas (LNG) has secured a total of $2.25bn in loans from third-party credit agencies to finance the construction, Japanese trading house Marubeni said on Thursday.

 

The construction of the project was on schedule, the company said, adding initial deliveries of LNG were anticipated in the first half of 2010.

Marubeni is one of the participants in the project, which is headed by US-based Hunt Oil and includes the construction of a natural gas liquefaction plant, a marine terminal and a 408km pipeline.

The natural gas feedstock would be supplied from the Camisea gas field through the pipeline owned by Peru LNG and processed at the planned 4.5m tonne/year LNG plant, being built in the country’s Pampa Melchorita area, about 170km south of Lima, said Marubeni.

Marubeni had acquired a 10% stake in Peru LNG from SK Energy last August, reducing the South Korean company’s stake to 20%, it said.

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By: Tomomi Yokomura
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