(Corrects throughout last name of spokesman to Miro Quesadainstead of Quesada, corrects paragraph 4 to show destination ofShell exports was Mexico instead United States)
By Oleg Vukmanovic
PARIS, June 2 (Reuters) - PeruPetro is in dispute withAnglo-Dutch oil firm Shell over royalties related tothe export of seven Peruvian liquefied natural gas (LNG) cargoeslast year, the regulator said, adding it hoped to reach a dealsoon or would resort to arbitration.
Supplies from Peru's 4.45 million tonne per annum LNG exportplant are handled by Shell, which acquired the asset fromSpain's Repsol in 2014.
Under the terms of its contract, Shell must pay the Peruviangovernment a royalty based on the final destination price ofwhere it sells the LNG, PeruPetro's promotion and communicationsmanager Oscar Miro Quesada told Reuters in an interview.
But Shell in 2014 exported seven cargoes to Mexico, payingPeru a royalty based on the U.S. gas futures benchmark, one ofthe lowest prices in the world. It then re-sold the LNG to beexported to Asia, pocketing a much bigger sum and not sharingthe proceeds with Peru, Miro Quesada said.
"In 2010 there were 10 cargoes that Repsol sold and did notshare the full royalties. Shell did something similar last year.Right now Shell and PeruPetro are talking to solve this," Miro Quesada said.
Miro Quesada could not give an indication of how much itwants Shell to pay Peru, but said the talks with Shell wereprogressing and it was hopeful a deal could be reached soon. Ifnot, PeruPetro will resort to arbitration courts, he said.
Shell did not immediately respond to requests for comment.
Peru recently settled a similar long-standing dispute overinadequate royalty payments related to 10 LNG cargoes exportedin 2010-2011.
The World Bank's International Center for Settlement ofInvestment Disputes ruled last week against PlusPetrol, operatorof a Peruvian gas field that supplies the LNG plant.
The ruling was a victory for PeruPetro, which is set tocollect compensation for the lost royalties. (Reporting by Oleg Vukmanovic; Editing by Mark Potter)
