Changes in the contract of the Camisea project

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There are two contradictory opinions concerning the contract
of the Camisea gas project. In one hand, the President of the Cabinet Pedro
Pablo Kuczynski (PPK) reiterate that there were no changes in the contract of
Camisea. In the other hand, the former Minister of Energy and Mining Carlos Herrera
Descalzi says that “the contract was renegotiated”.
In an interview published in newspaper La Republica, the former Minister says that the Supreme Decree Nº 050–2005–EM approved last December while
PPK was President of the Cabinet, prioritized the export of gas and not the
supply of gas to the local market. The renegotiation of the contract was
supposed to favor the company Hunt Oil, were PPK was an adviser in 2003.
According to Carlos Herrera Descalzi the original contract
signed in 2001 during the transitory government of Valentin Panigua has not
been respected. With the decree of December 2005, Petro Peru
was authorized to renegotiate, and later on changes to the regulations and the
law 27133 (Promoción del Desarrollo de la Industria del Gas Natural) were done
in an encrypted way.

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