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The discovery of the Sirius offshore gas field in Colombia’s Caribbean waters has been hailed as a breakthrough for the country’s energy future. With an estimated output of 450mmcfd, about 45% of the national demand, the project promises to provide short-term relief amid growing concerns about domestic gas shortages.

Luis Eduardo Parra Rodríguez is set to become the new president of Hocol, a key subsidiary of Colombia’s state-owned oil company, Ecopetrol (NYSE: EC).

Promigas, one of Colombia’s leading natural gas transportation companies, has announced a major investment of US$1.2B over the next four years in four key infrastructure projects aimed at eliminating transportation bottlenecks and ensuring stable gas supply across the country.

Primax Colombia, one of the country’s leading fuel distributors, announced a new strategic alliance with McDonald’s to reward Colombian consumers with fuel savings through an innovative campaign titled “El Match Perfecto.”

Colombia’s natural gas supply is facing a growing crisis, with a projected shortfall of 20% by 2026, according to the Gas Market Operator (GMO) under the Bolsa Mercantil de Colombia.

At the 27th Congress of the National Association of Public Utility and Communication Companies (Andesco), Ecopetrol President (NYSE: EC) Ricardo Roa announced that Colombia will need to import natural gas to meet domestic demand until at least 2034. The decision comes in response to declining production, the lack of new exploration and production contracts, and an overall loss of energy self-sufficiency.