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Oil and Gas Alert – January 2021

ALERT – OIL AND GAS

“Procedure for Disbursements and Collection of FISE Financing in the Framework of the Natural Gas Supply Promotion Programs” was adopted

Through Vice-Ministerial Resolution No. 029-2020-MINEM-VMH, published in the Official Gazette El Peruano, on January 5, 2021, the “Procedure for Disbursements and Collection of FISE Financing in the Framework of Natural Gas Supply Promotion Programs” (hereinafter referred to as the “Procedure“) was adopted, in order to regulate both the operation of the disbursements in favor of the Concessionaire of the natural gas distribution service by pipeline network (“Concessionaire”) and Installation Companies as the activities of collection and transfer of the FISE Financing in charge of the Concessionaire, within the framework of the Annual Program of Promotions adopted by the MINEM.

The Procedure regulates the collection activities carried out by the FISE Administrator for the recovery of the financing, in order to safeguard the FISE resources; and the automation of the processing of the disbursements in favor of the Installation Companies and/or Concessionaires, in order to face the effects of the restrictions imposed by the declaration of the State of Emergency and the increase of the installations executed by the Installation Companies.

In order to achieve the aforementioned automation, an electronic platform shall be implemented that shall allow the FISE Administrator to control the liquidations, disbursements and collection of resources. This platform shall be operational once the migration and updating of the historical base of settlements, collections and any other information related to FISE financing is completed. In the meantime, settlements shall be carried out virtually, through e-mails or MINEM’s Virtual Window.

With the entry into force of the Procedure, the following rules shall be repealed: “Procedure for Disbursements and Collection of FISE resources destined to the Program for the Promotion of New Residential Natural Gas Supplies”, adopted by Board of Directors Resolution No. 199-2016-OS/CD and the “Procedure for the Collection Management of the Financing of the Programs for the Promotion of New Residential Natural Gas Supplies with FISE Resources”, adopted by FISE Project Resolution No. 111-2018-OS-FISE.

Any consultation on this matter may be acquitted by Dr. Jorge Pérez-Taiman (jpereztaiman@estudiorodrigo.com), Dr. Carolina Noriega (cnoriega@estudiorodrigo.com), and/or Dr. Talía Hormaeche (thormaeche@estudiorodrigo.com).