Outcry over plans to increase the price natural gas as it is fixed by the market has led to an agreement between the government and industry to postpone planned rate increases this month.
The attention always goes to crude oil production which gets the headlines. But there are worrisome trends in gas production as well.
Regional governors, industry associations and congressional leaders have sounded the alarms on rate increases on natural gas that are planned for the Caribbean coast for 2015. Critics say the rise will amount to a 25% increase and effect both thermal generators and home consumers.
Terpel’s Gazel chain says that it expects that within 5-10 years there will be up to 30,000 buses and trucks running on natural gas instead of diesel.
GasA recent congress for energy wholesalers in Cartagena served to take yet another look at the burning questions facing the natural gas industry of whether or not there is sufficient supply of the resource in the midterm.
David Riaño assumed the role of president of Colombia’s main gas transporter TGI around a week ago, and has now announced an investment plan of US$200M to invest in three strategic projects that will expand the company’s capacity.
Colombia’s main gas transporter TGI has moved Riaño Alarcón into the role of president, drawing on his experience with the firm as regulation manager as the firm looks to adapt to a new regulatory framework for gas.
A kind of class action lawsuit, or “Popular Action” has been verified Casanare Administration Tribunal after a public hearing late last week, in which Ecopetrol (NYSE:EC) has been required to install a valve for its natural gas line to the Agauazul municipality.
Pacific Rubiales (TSX:PRE) and Belgian sea shipping logistics firm have signed an agreement to move forward with a natural gas liquefaction barge that could develop new markets for PRE and Colombia’s gas business.
While authorities say all is well, some industry players say that the increase in demand for natural gas –some 57.2% between 2009-2014- is already creating shortfalls in supply that could lead to rationing.
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