It rained heavily in much of the country in 1Q25, filling up the reservoirs and lowering the demand for natural gas for thermoelectric generation. But non-thermal demand grew while domestic supply was flat meaning Colombia crept ever close to importing gas for domestic demand on regular basis.
During the forum “Energy Security and Sovereignty: Building a Sustainable Future”, experts from Colombia’s energy sector raised urgent concerns about the country’s gas shortages, regulatory hurdles, and rising energy tariffs.
The natural gas sector in Colombia is facing a critical juncture. Luz Stella Murgas, President of the Colombian Natural Gas Association (Naturgas) talked about this situation,
The president of the National Hydrocarbons Agency (ANH), Orlando Velandia, talked about the process to award environmental licenses for Block GUA-OFF-0, formerly known as the Tayrona block.
Colombia faces a complex scenario regarding its natural gas supply, balancing domestic production potential with a growing reliance on imports.
The Colombian government’s recent discussions about importing gas from Qatar have sparked debate among energy experts. Some argue that this move implicitly acknowledges a gas shortage in the country.
Colombia’s inflation rose slightly in February, reaching an annual rate of 5.28%, according to data released by DANE.
For years, our editorial point of view was that importing gas was an unacceptable and unnecessary loss of energy sovereignty. We opposed building a second regas facility on the Pacific coast saying that the resources should be directed to encouraging domestic gas development. But, now, pragmatism means we have to modify our position.
Investment in gas exploration in Colombia has declined, and incentives for drilling new wells have been limited.
Ecopetrol (NYSE: EC) has taken a strategic step to strengthen the country’s natural gas supply amid shortages and rising service costs.
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