1 October 2003
Ex-Im blow to Camisea
THE US EXPORT Import (Ex-Im) Bank has rejected a $214m loan for the upstream portion of the Camisea natural gas development, putting liquefied natural gas (LNG) exports to the US into doubt. Gas from Camisea is unlikely to reach any further than Lima - the focus of the downstream portion of the project, which received its own financing from the Inter-American Development Bank (IDB). In the wake of Ex-Im Bank's refusal, the IDB's willingness to agree a $135m loan for the downstream portion of the Camisea project took many by surprise. The bank had previously said it was unlikely to issue loans for the downstream portion of the project in the light of Ex-Im Bank's decision. It seems heavy lobb
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