The surprise visit of Gustavo Petro, President of Colombia, to Venezuela sparked a wave of discussion and reflection within Ecopetrol’s Board of Directors regarding the president’s plans announced through media channels.
Naturgas’ Luz Stella Murgas outlined key insights from a study conducted by the association on the vital role of gas in addressing poverty. The research highlighted several critical facets concerning energy poverty and identified potential solutions.
Although the Petro government struggles with how soon Colombia can reduce its dependence on hydrocarbons, the goal of reducing escaped or flared gases from production – a contributor to the industry’s Scope 1 CO2e emissions – unites this government with the last one.
The last week or so was topsy-turvy for Colombian gas with Ecopetrol announcing “the presence of gas” in the Shell-operated Glaucus-1 well but Canacol announcing it had thrown-in-the-towel on its deal with EPM and the associated pipeline connecting Medellin and Jobo. The Canadian E&P simultaneously announced it was limiting its Colombian CAPEX to projects which leverage “existing transportation capacity” and focusing its future-oriented investments on Bolivia. The Canacol announcement will, no doubt, dominate the coffee and cocktail conversations at this week’s Cumbre de Petróleo, Gas y Energía in Cartagena.
Gas imports has been on Colombia’s radar for years, but it takes on added significance during periods of drought, such as the current situation in the energy sector due to the presence of the El Niño climate phenomenon.