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Peru: domestic growth threatens gas-export schemes

THE victory of centrist Alan García in Peru's presidential election last month was a relief to private-sector oil companies. None more so than the US' Hunt Oil and Spain's Repsol YPF, which are involved in a $2.5bn project to turn Peru into Latin America's first liquefied natural gas (LNG) exporter by 2010. Robert Cauclanis reports. Victory for García's rival, leftist-nationalist Ollanta Humala, would have seen resource-nationalism – a growing trend in the region – spread to Peru. Humala, an ally of Venezuelan President Hugo Chávez, said during his campaign that he would seek to change Peruvian law to give the state a much larger share of profits from energy projects. García is much less l

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