Energy

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 leading producers of natural gas in the region, an oil production hub and an important target of investment by foreign energy firms. Though oil production in May 2014 stood at 69,000 barrels per day (bpd) – having declined from 87,500 bpd in 2003 – production of natural gas has grown quickly, reaching 430.8bn cubic feet (bcf) in 2013, compared to 17.7 bcf in 2003. The government is now focused on developing the infrastructure that would be needed to add value to hydrocarbons resources through refining and petrochemical manufacturing.

This chapter contains an interview with Eleodoro Mayorga, Minister of Energy and Mines.