From the Bretton Woods Project:
A September report by NGO Amazon Watch warns the International Finance Corporation (IFC) and the Inter-American Development Bank (IDB) that they risk breaching their own social and environmental safeguards if they provide funding for the Peru liquefied natural gas project, or Camisea II. Both banks are considering support for the gas liquification plant on the Peruvian coast and the 400 km pipeline from the Andes to the coast. Together they would provide $1.1 billion for the $3.8 billion mega-hydrocarbon project in the Peruvian Amazon. The IFC is to decide in early January.
Camisea II is an expansion of the controversial Camisea I, or Camisea gas project. It was repeatedly criticised for negative impacts on indigenous communities and the ecologically-fragile rainforest, and for multiple violations of national and international standards. These criticisms have been upheld by the Peruvian human rights ombudsman. Peru's energy regulatory agency has also fined the Camisea consortia millions of dollars for oil spills, but has yet to collect most of the money. Camisea II, already under construction, is to be managed by a consortium of Hunt Oil (USA), Repsol (Spain), SK Corporation (South Korea) and Marubeni Corporation (Japan). It would transport gas from the Amazon across the Andes and to the Pacific coast for export to US, Mexican and other markets....MORE
