Peru's Camisea LNG project gets key loan from BID

The Inter-American Development Bank approved a $400 million loan on Wednesday to export liquefied natural gas (LNG) from Peru's Camisea field, an important funding pledge that is expected to open the door to billions of dollars in private investment.

Environmental groups have opposed the project to use gas from the Camisea field, an important gas reserve in South America that Peru wants to develop as part of a broader plan to gain energy self-sufficiency.

The total cost of Peru's LNG project is about $3.9 billion. It would be one of the largest investments ever in the Andean country.

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