IEA examines Chilean energy sector

July 19, 2012 at 8:32 AM
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PARIS, July 19 (UPI) -- The International Energy Agency called on Chile to take steps to diversify its energy sector as the country advances its candidacy campaign.

The IEA, in a report on the Chilean energy sector, outlined a series of recommendations for the Latin American country. Chile is a candidate for IEA membership.

"With national oil production in Chile only accounting for 2 percent of its total oil consumption in 2010, the report commends the wide diversity of import sources Chile relies on for its crude oil and oil products," the IEA said.

The Chilean Ministry of Energy announced plans to investigate the steps needed to meet IEA standards for potential energy shortfalls.

In terms of natural gas, the IEA called on the government to expand its ability to import liquefied natural gas in an effort to cope with potential supply emergencies.

An earthquake in 2010 disrupted the country's electricity network. Similar issues were experienced in 2004 when Argentina blocked natural gas supplies to Chile.

Chilean and French ministers of energy sponsored a bilateral energy group tasked with promoting a policy of sustainable energy through renewable and non-conventional natural resources. Both nations would also support an exchange of technology for sectors such as nuclear power and hydroelectricity, French energy company GDF Suez announced in February.

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