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Session II: The energy perspective and the situation of the hydrocarbons and electricity sectors to medium term (from 2016 to 2020)
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Moderator – Juan Miguel Cayo, Regulation Director in Latin America at ENDESA
The speaker Eleodoro Mayorga, partner of Laub & Quijandría Consultants and Lawyers, described the economic boom that Peru is experiencing and he also made a projection for 2020 on how the energy sector will develop (See Presentation). He raised two scenarios: a favorable one, where investments made would enable the building infrastructure to increase gas production and derivative oil products, power generation, petrochemical industry, transportation activities, and hydrocarbon refinery; and unfavorable one, where these investments would not be developed.
In the second scenario, the electric cost would increase as well as the supply restrictions; in contrast, the GDP could decrease. Therefore, it would be necessary to import more diesel and, as a consequence, the State revenues (taxes, royalties, and canon) would be reduced and the trade balance would decline. While in the first scenario, the development of such sector would bring great benefits for the economic growth both in revenues and in the industrial development, this would happen as a result of an efficient energy supply.
In his conclusions, Eng. Mayorga proposed
- Institutionalization of a proper planning, coordinated with the private stakeholders.
- A proper management of the State companies that requires having a long-term enhancement plan (allowing systematically to add value).
- Coordination improvement among the State institutions (and its resources) in charge of the permits and socio-environmental control associated with energy activities.
The panel was made up by:
- Fidel Jaramillo, Resident Representative of Inter-American Development Bank, , made comments on the presentation and expressed the willingness from IDB to continue supporting the sectorial planning and the promotion of RERs
- Germán Jiménez, Pluspetrol General Manager,, made a presentation ( See Presentation), reporting the largest tested reserves in Lot 56 and 88, and the future investments in exploration, which are estimated in US$ 1,170 MM in the next 3 years, that Pluspetrol will carry out.
- Luis Ortigas, Chairman of the Board at Perúpetro, conveyed his concern about the human resources management in the State institutions and how that does not allow to create incentives to engage top level professionals. This comes from uncompetitive salaries, as well as the constant pressure on professionals by the audit, which oftentimes hinders making important decisions.
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