China’s CNPC to start gas production in Peru by late 2026 with $500M investment

Photo: Presidencia Perú.

China’s National Petroleum Corporation (CNPC) is preparing to launch a new chapter in Peru’s energy sector with the start of natural gas production in Block 58, located in the Cusco region, by late 2026. The announcement, made by Pedro Chira, president of Peru’s state regulator Perupetro, underscores the growing role of Chinese investment in Latin America’s energy landscape.

The project represents an estimated USD 500 million investment, aimed at developing one of Peru’s most promising natural gas reserves. According to Perupetro, the block holds between 2.5 and 3 trillion cubic feet (TCF) of proven and probable reserves, an amount that could significantly enhance Peru’s long-term energy security and contribute to meeting both domestic demand and export potential.

For Peru, expanding natural gas production is strategic. The country has long relied on the Camisea gas fields as the backbone of its energy supply, but rising demand and the need to diversify sources have placed new urgency on developing additional reserves. Block 58, now operated by CNPC after taking over from Brazil’s Petrobras, is considered one of the most important projects to sustain and expand the nation’s gas output.

Beyond its domestic significance, the project highlights China’s expanding footprint in Latin America’s energy sector. Beijing has steadily increased its presence through state-owned enterprises like CNPC and Sinopec, both of which view South America as a key supplier of strategic commodities. The entry of CNPC into Block 58 not only strengthens bilateral ties with Lima but also complements China’s broader strategy to secure long-term energy resources to meet its growing consumption needs.

At the same time, Peru is diversifying its partnerships. Perupetro announced that a consortium led by Anadarko, Chevron, and Westlawn is set to begin drilling an offshore exploratory well in the La Libertad region by the end of the year, backed by a USD 100 million investment. This initiative reflects Lima’s dual approach: attracting Asian capital while maintaining strong ties with U.S. based energy giants.

Analysts note that if CNPC’s project advances on schedule, Peru could consolidate its status as a reliable regional exporter of natural gas, potentially increasing shipments to neighboring markets and supporting broader goals of energy integration in South America. Additionally, revenues from gas exports are expected to boost government income and create opportunities for infrastructure and social development in Cusco and surrounding regions.

* Original text in Spanish. Translated by Large Language Model (LLM) technology.

Main Source:

Petrolera china CNPC comenzará a producir gas en Perú a fines de 2026: regulador Perupetro – La Nación

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