en.Wedoany.com Reported - Peru's Minister of Energy and Mines (MINEM), Juan Carlos Liu Yonsen, announced that the port of Paita, located in the Piura region, will be designated as a specific geographic area for the construction of a decentralized petrochemical complex. This initiative aims to create new growth and development opportunities in northern Peru.
Minister Liu explained that the project will industrialize natural gas produced in the north and increase added value by promoting fertilizer production, which is crucial for ensuring food security and strengthening production chains, benefiting Piura and other regions. He noted that the Piura Provincial Council of the Peruvian College of Engineers (CIP-PIURA) proposed evaluating Piura as a region suitable for the petrochemical industry, as the jurisdiction possesses the economic, territorial, and environmental conditions to advance this designation.
Minister Liu added that the utilization of natural gas will generate over US$1 billion (US$ 1 bn) in investment through the petrochemical industry. Paita's strategic location offers advantages including port and logistics corridors, areas available for industrial use, and proximity to the agribusiness market near the Chimbote-Tumbes corridor. He stated that Paita has natural gas that can be used as feedstock for industrial-scale petrochemical projects. Developing a petrochemical hub in Piura helps strengthen the regional economy, increase tax revenue, and reduce dependence on fertilizer imports.
He added that the project will foster an ecosystem conducive to the development of a petrochemical hub, promoting key economic activities such as agriculture, mining, and energy, attracting investment, and reducing reliance on imports, while driving large-scale natural gas use and industrial development. He emphasized that Paita is connected to the natural gas network in northwestern Peru, close to existing and planned energy infrastructure and production areas associated with northern blocks, providing significant assurance for the permanent supply of the future petrochemical industry.
Peru's Ministry of Energy and Mines, in line with its functions, will promote the creation of this decentralized petrochemical complex by utilizing methane and ethane extracted from natural gas. These raw materials can be used to develop industrial chains with higher added value for producing fertilizers, plastics, and other chemical and industrial products.
