New radical: Castillo’s nationalisation talk rattles Peru’s foreign investors

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Left-wing firebrand Pedro Castillo is expected to become Peru’s next president after a bitterly contested vote with right-wing populist Keiko Fujimori. Peru’s business sector and foreign investors have been wary of a Castillo win. The former teacher has promised to nationalise strategic resources, including Peru’s sole gas field, Camisea, which feeds Peru LNG. This could affect the export facility’s stability, just as it plans to expand and optimise its operations, as well as disrupt the promising growth of Peru’s natural gas sector. But with a razor-thin lead against Fujimori, Castillo may not be able to gather enough support in a divided Congress to carry out his nationalisation plans.

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