Despite the recent discovery of significant natural gas reserves off the Colombian Caribbean coast, Ecopetrol’s (NYSE: EC) president, Ricardo Roa, announced that Colombia will need to continue importing gas for at least five more years.
As Colombia faces a looming gas shortage and the risk of electricity outages, the country’s energy sector is under immense pressure to find solutions. The current situation has a grim outlook, as challenges surrounding both gas and electricity supply intensify.
Colombia announced its largest natural gas discovery in three decades, a find that could double the nation’s reserves and sustain its gas supply for up to 40 years.
Bruce Mac Master, president of the National Business Association of Colombia (ANDI) and the Business Council, issued a stark warning regarding the country’s energy future.
Juan Manuel Rojas, President of Promigas, has outlined a strategy combining imported liquefied natural gas (LNG) with local gas to meet the nation’s energy demand.
The Ministry of Mines and Energy (MinEnergia) announced preventive measures to secure the country’s energy supply, particularly in hydrocarbons, as the country faces increasing challenges.
The uncertainty surrounding Colombia’s gas supply continues to spark concern, particularly regarding the country’s inadequate infrastructure to handle potential gas imports.
Sandra Fonseca, executive director of Asoenergía, urged the Colombian government to prioritize natural gas resources to prevent a fuel crisis by 2025.
Ecopetrol (NYSE: EC) announced the suspension of vehicular gas sales to 13 companies responsible for its distribution across the country.
The Colombian Gas Association (Naturgas) released its annual report, emphasizing the industry’s efforts to increase gas supply amid warnings of a potential gas shortage in 2025.
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