Peru has one of the fastest growing markets in Latin America in terms of the use of alternative fuels, mainly CNG, and the related industry. The Ministry of Energy and Mines (Minem) reported that the NGV Savings Program, which has coverage in the Lima, Callao, Junín, Ica, Cusco, Piura, La Libertad, Áncash and Lambayeque regions, financed conversions in 53,207 light vehicles until September 2022 and, of that total, 37,812 (more than 70%) were benefited in that year.
According to the General Directorate of Hydrocarbons of Minem, more than 27,000 gasoline-powered vehicles were converted to CNG in 2022, that is, 73% of the total converted by the program nationwide; while there are more than 10,000 LPG cars converted to CNG, which represents 27% of the universe of almost 38,000 units. Lima is the region that leads conversions, with more than 25,000 vehicles of its fleet converted to natural gas.
NGV Savings Program finances the conversion of engines to CNG with resources from the Social Energy Inclusion Fund (FISE), which allows end users monthly savings of more than 50% in fuel consumption. This program, which is expected to be extended to other regions of the country, is part of the national policy of mass adoption of natural gas, which the government promotes so that Peruvians can access the benefits of this clean and cheap fuel.