The Inter-American Development Bank has issued $800 million worth of loans for the export of liquified natural gas (LNG) from the controversial Camisea gas field in the Peruvian Amazon. Peru plans to build a liquefecation plant, marine terminal and pipeline to enable the exportation of natural gas.

Because natural gas is highly explosive, it must be cooled and liquified for shipping, then regasified at a special import terminal. With North American natural gas reserves running out, the U.S. Federal Energy Regulatory Commission has plans for 40 new LNG import terminals.

An LNG import terminal in Manzanillo, Mexico, scheduled to open in 2012, is expected to import gas from Camisea.