Oil is the dominant fuel source in Peru. In 2004, oil represented 56 percent of Peru’s total energy consumption of 0.6 quadrillion Btus. Hydroelectricity is the second-largest component, representing 33 percent in 2004. However, the development of the Camisea natural gas project has led to increased use of natural gas in the residential, industrial, and power generation sectors. In addition, the development of an integrated liquefied natural gas (LNG) terminal will allow Peru to become an important regional exporter of natural gas in the near future.