Peru’s energy sector is undergoing a period of rapid transformation. Ten years ago energy demand was low and the country depended almost entirely on hydroelectric power in addition to petroleum imports to meet its needs. At that time, Peru had limited oil production, no production of natural gas and little to speak of in terms of energy exports. Today, by contrast, the country is among the...
Peru Energy
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Though Peru’s economic growth registered a slowdown in 2014 - to an estimated 3.1% according to the central bank compared to rates of between 5% and 9% for much of the past decade - the mining-led economy is expected to regain momentum in 2015 as diversification efforts continue and government measures to stimulate investment take effect.
Over the past decade Peru has seen a period of transformative growth, effectively positioning it as one of the leading economic performers in Latin America. Posting growth rates in excess of 6% from 2010-12, the economy expanded by a further 5.1% in the first half of 2013.
The mining sector has seen its revenues increase significantly as Peru continues to ride the wave of a commodities “super-cycle”, bringing foreign reserves to an all-time high and sparking large-scale transportation and energy projects as production increases. As of June 2013, the Ministry of Energy and Mines reported an investment portfolio of $57.4bn. With the rich, polymetallic Andes as a...
Chapter | Energy & Utilities from The Report: Peru 2014
Although its resource wealth should help to ensure Peru’s long-term energy security, in the short term surging demand continues to put pressure on the sector. A recent influx of investment in hydroelectric power stations and natural gas-fired thermoelectric facilities should be enough to stave off any bottleneck in electricity generation and avert potential power shortages in 2016 and 2017....
In 2010 Peru was among the world’s top 10 producers of a variety of minerals, among them gold, silver, copper, lead, zinc, tin and mercury. Commodity prices of copper and gold have kept revenues high despite a decline in production over the last several years. Exports increased from $3.2bn in 2000 to $21.7bn in 2010, posting average annual growth of 58% during that period. While the mining...