Tuesday, October 29th, 2024
While writing this past Monday’s article on finding more gas from existing sources, imported gas was always in the background. As domestic production falls and lack of rainfall restricts hydro power generation, imported gas kept, or rather keeps, thermogenerators running and Colombians’ lights on.
Oil production in Colombia remains crucial to the national economy, especially given looming energy shortages, natural gas deficits, and a government stance against new hydrocarbon exploration contracts.
The Colombian government announced a scheduled rationing of natural gas in the Caribbean region, a temporary measure aimed at ensuring the continuity of electricity supply during maintenance work at a regasification plant.
Colombia’s energy sector spotlighted a pressing issue: a looming gas shortage. However, President Gustavo Petro’s response, where he mistakenly attributed maintenance at the country’s only regasification facility, SPEC LNG, to routine operations at a thermoelectric plant, underscored a disconnect in understanding critical infrastructure and so a crisis management gap.
Four contractors working for an Ecopetrol subsidiary were kidnapped in Norte de Santander while performing maintenance on the Coveñas-Caño Limón (CCL) pipeline.
And would it make a difference? MinEnergia Andres Camacho said that all gas produced should go to an end consumer suggesting they would audit fields to ensure no gas was “wasted” and thereby address the national shortfall. Is this really a solution? We looked at the data.
Despite oil prices being volatile due to unrest in the Middle East, many oil traders remain pessimistic about the market outlook for 2025.
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