The government of Peru is considering a bill that proposes allocating more than S/ 478 million ($127 million USD) towards promoting the adoption of natural gas. The funding will also help enhance the beneficiaries of the FISE LPG discount voucher and improve the electrical infrastructure that will benefit millions of Peruvians.
The Ministry of Energy and Mines (MINEM) would receive S/ 350 million ($92 million USD) under the proposed bill to execute programs that encourage the use of natural gas in homes and businesses. This would involve an increase in the number of connected homes, building 505 km of new distribution networks in cities, and financing the conversion of 10,000 vehicles to use natural gas. Moreover, the bill proposes the allocation of more than S/ 1.5 million to MINEM to finance some of the development costs for Stage II of the Pre-Investment Study of the Gas Pipeline project meant for Southern Peru as part of its reactivation.
As of now, the Budget Committee of the Congress of the Republic has already approved the bill, and now it is awaiting debate in the highest legislative instance. This is a promising development in promoting the expansion of natural gas adoption in Peru, striving to enhance the country’s energy sector.
This initiative also comes ahead of the AltFuels Peru 2023 event, which will focus on alternative fuels and sustainable mobility. It will feature 70 expert speakers and 120 exhibitors showcasing the latest technology and developments advancing the industry. The event will take place from 20-22 April at Villa Complejo Ferial in Lima.
The proposed bill is a part of the Peruvian government’s ongoing efforts to promote the use of natural gas as a cleaner, cost-effective, and efficient fuel to power the country’s industries, homes, transportation, and businesses. Peru has extensive natural gas reserves and is one of the largest producers of liquefied natural gas (LNG) in the region. The expanded use of natural gas can also contribute significantly to reducing greenhouse gas emissions, providing a cleaner and greener energy future for the country.
In conclusion, the proposed bill’s approval will be a significant step in reinforcing Peru’s energy sector’s infrastructure while promoting the use of natural gas. As the country remains committed to reducing its carbon footprint, the natural gas expansion initiative will contribute to achieving its ambitious sustainability goals.
Source: MINEM