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LatinNews Daily - 27 October 2021

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In brief: Peru’s Castillo calls on congress to nationalise Camisea gas deposits

* Peru’s main extractive industry lobby, the Sociedad Nacional de Minería, Petróleo y Energía (SNMPE), has reacted with alarm to comments by President Pedro Castillo in which he called on congress to nationalise the Camisea gas fields in the Cusco region. During a visit to the Amazonas region, Castillo yesterday urged the legislature to pass a law to nationalise Camisea, arguing that “we need to give Peruvians that which is produced by the people.” In response, the SNMPE released a statement describing his comments as a “threat” to “attack private property and shatter the ongoing economic recovery.” SNMPE director Pablo de la Flor warned that, nearly 100 days into Castillo’s presidency, “there is no clear direction in the management of the country” and that “we only find announcements and contradictory gestures that demonise private investment and deny its real contribution to development in Peru.” Castillo subsequently attempted to calm the waters, tweeting that his government has “respect for business freedom” and that his priority in the energy sector was the “massification [of gas] for the benefit of all Peruvians.”