News and AnalysIs for

Colombia has undergone a dramatic and largely unremarked structural shift in its gas supply over the past three years: a commodity that was overwhelmingly domestic has become increasingly imported, with consequences that will compound sharply if El Niño arrives as forecast.

Canacol Energy, Canada’s second-largest independent gas producer in Colombia, which is under creditor protection has attracted concern about a possible supply crisis.

MinEnergia has announced that the UPME has completed its technical evaluation of a floating storage and regasification unit (FSRU) project off the coast of La Guajira — clearing the way for what would become Colombia’s second regasification terminal and a significant diversification of the country’s increasingly strained gas supply infrastructure.

Ecopetrol’s bonds have staged an impressive run since March, but Wall Street analysts are now warning that the May 31 presidential election has become the single most important variable for the company’s long-term credit profile — potentially more consequential than oil prices, production volumes, or even the ongoing governance crisis at its headquarters.

Gran Tierra Energy reported Q1 2026 total working interest production of 45,497 boed, 2% below both Q4 2025 and Q1 2025, with Colombia contributing 21,319 boed. The sequential decline reflects waterflood optimization timing in Colombia and the disposal of the Canadian Simonette Montney assets for US$49M, partially offset by stronger-than-expected results from the Conejo wells in Ecuador’s Charapa Block.

The Ministry of Mines and Energy has published a draft decree that would overhaul the rules governing Colombia’s natural gas market, targeting what the government characterizes as speculative behavior in secondary trading that is driving up costs for households, industry, and commerce.