Ecopetrol has declared void the offers it received to import LNG on five-year terms, saying they did not meet minimum commercial conditions, and says it will strengthen domestic gas output and accelerate Sirius.
Colombia’s Mines and Energy Minister María Nohemí Arboleda says gas supply could fall short from February 2027 as domestic reserves shrink and imports grow.
Colombia now imports more liquefied petroleum gas (LPG) than it produces, as industrial users switch away from scarce natural gas and domestic output declines.
Chile has no significant domestic gas production, yet its supply does not hinge on a floating regasification unit (FSRU), a contrast that shows how exposed Colombian industry is, argues Patricio Mura Escobar, general manager of Grupo GasPaís.
Imported gas supplied 39% of Colombia’s natural gas in September, and with a very strong El Niño looming, industrial users are looking for alternatives to secure their energy.
The floating storage unit that will supply Colombia’s Pacific regasification project has arrived in Buenaventura Bay, and large companies are reportedly weighing bids for the venture.
Eni and Repsol are reportedly looking to sell part of their stake in La Perla, Venezuela’s largest gas field, to raise capital for a production expansion.
Colgas, Ecopetrol subsidiary Hocol and the Tierralta municipal government have launched a synthetic natural gas (SNG) network in Tierralta, Córdoba, aimed at replacing firewood for household cooking. SNG is a propane-air mixture, so the town can be served without a link to the national gas transport system.
This should come as a surprise to no one: as domestic production falls, the supply mix shifts to imported gas at more than twice the price of domestic. The average inevitably has to go up.
A global shortage of floating regasification vessels is raising costs and delaying the LNG import projects Colombia is counting on as its domestic gas declines.
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