Peruvian consortium grants US$39M to help acquire CNG trucks & buses

Peruvian consortium grants US$39M to help acquire CNG trucks & buses

Over the next three years, the Camisea Consortium will allocate a fund of approximately US$39 million to promote the use of natural gas in vehicles of the passenger and cargo transportation segment in the department of Lima and the constitutional province of Callao. The NGV Promotion program of the consortium led by Pluspetrol plans to incorporate more than 3,000 new NGVs in the next three years.

Camisea explained that, in order to implement the stimulus program for the purchase of new natural gas dedicated vehicles, an agreement was reached with the gas distribution company Cálidda, which will actively collaborate with the execution of specific plans, and a trust will be created to administer the funds.“The objective of the program is to promote the use of NGVs and contribute with the State in the plans for the widespread adoption of natural gas, to grant carriers the benefits of a more economic fuel, and society the advantages of cleaner energy”, said representatives of Camisea.

“While a heavy-duty or urban transport vehicle running on CNG is approximately 20% more expensive than a diesel-powered one, the stimulus program provides for the granting of economic benefits that will help carriers to pay for this higher purchase price. Additionally, they will have access to the benefits of a cleaner and cheaper fuel that will give them greater profitability,” they added.

The Camisea Consortium is made up of Pluspetrol (operator), Hunt Oil, Repsol, Sonatrach, SK Innovation and Tecpetrol. Camisea is located in the Peruvian Amazon within the lower basin of the Urubamba River, in the Cusco region. The project consists of the exploration and production of natural gas and liquids from the San Martín, Cashiriari and Pagoreni fields (lots 56 and 88), which make up one of the most important gas reserves in Latin America.

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