Canacol Energy (TSX:CNE) saw a drop in revenues and widened loss, as well as a fall in production, and confirmed that its management team is squarely focused on the opportunities for natural gas in 2016.
Colombia’s first regasification plant, located in the Cartagena, is 70% finished and should be ready in December 2016. The general manager of the facilities explained why the project has taken so long and the process still needed to get it up and running.
The Energy Mining Planning Unit (UPME) presented its report on the natural gas sector in the recent Colombian Natural Gas Association (Naturgas) and said that reforming the transportation system is a top priority, along with improving reliability and building a regasification plant on the Pacific coast.
The 19th Congress of the Colombian Natural Gas Association (Naturgas) provided the venue for a debate on the future of the natural gas industry and gas supply, with Naturgas assuring current problems are not a larger trend, while the Colombian Petroleum Association brought up concerns on Colombia’s self-sufficiency.
A high Cartagena court has halted the construction of a strategic section of a natural gas pipeline which would help supply thermal generators in Cartagena with the fuel.
GasThe president of the Association of Natural Gas (Naturgas) insisted that the supply of natural gas is just fine, and that the “feeling” of scarcity is just due to El Niño.
GasThe graph shows that, despite all the attention focused on natural gas, production continues to fall. Hard for prices to go down (as politicians would like them to) if supply is lower and demand is steady or growing.
While the decrees and studies on how to lower the costs of natural gas in the Caribbean region continue, other regions are now clamoring for a discount in their gas prices as well.
Gas Natural Fenosa country manager for Colombia, Alberto González, said that the supply of natural gas is solid and that the firm will look to growth by introducing more gas-powered appliances in homes, and invest in infrastructure.
The Association of Large Energy Consumers (Asoenergia) says a planned regasification plant for Cartagena does little to address the energy issues, and called on the government to follow through with a reform of the distribution of the “reliability charge”.
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