News and AnalysIs for

The Ministry of Mines and Energy (MinEnergia) reported natural gas production figures for January 2019.

Two weeks ago we looked at the UPME’s demand scenarios, pointing out that 70% of the forecast growth comes from the Oil+Gas sector, a fact we found surprising, especially considering that the forecast was not well explained and seemed to be way off in the first year of the study (2019). This week we look at supply and the ‘balance’ or the difference between supply and demand.

Carlos Leal, President of the Colombian Association of Petroleum Engineers (Acipet), spoke about the actions that the government is taking to boost the gas industry.

Industry experts called on authorities to prioritize the national gas industry, however, they did not rule out the possibility of having to import this fuel.

To date, thermal power plants consume a quarter of the total natural gas in the country.

Experts in the natural gas sector are discussing alternatives to meet the growing demand for this fuel in the short and medium term.

The Colombian Association of Natural Gas (Naturgas) reported results for natural gas production, transportation and demand during 2019, and spoke about what to expect in 2020.

Experts are still concerned about low oil and gas reserves in the country. The natural gas market, however, seems to be stable at the moment.

The UPME recently released its forecasts of natural gas supply and demand. It concludes a second regasification plant is required and it has to be in Buenaventura. Surprise! Wow! Amazing! Did not see that coming! Thank goodness Colombian taxpayers can count on an impartial agency like the UPME to objectively study these important issues.

We are planning a major article on the UPME’s latest forecasts for gas next Monday. This chart was interesting but not entirely on topic so we thought we would publish it separately.