Spanish gas utilities firm Gas Natural Fenosa says that the number of conversions to Natural Gas Vehicles (NGV) in the first half of 2014 has grown by 17% year-over-year, after 9,691 vehicles were converted in Colombia.
GasThe Bolsa Mercantil de Colombia (BMC) has been awarded a five year contract to administer the transactions and prices of natural gas, which its president Iván Arroyave says will bring greater transparency and formality into gas transactions and the pricing established in the market.
GasThe International Finance Corporation (IFC), part of the World Bank, is leading the financing of US$240M in debt for a floating liquid natural gas plant (LNG) in the Caribbean being built by Pacific Rubiales Energy (NYSE:PRE), the first of its kind in the world.
The Ministry of Mines and Energy (MinMinas) has prioritized both an expansion of gas coverage and sought to protect that market against increased demand due to the El Niño weather phenomenon, but it has not been enough to guarantee supply for thermal generators.
In separate press articles, the leader of the natural gas industry association (Naturgas), Eduardo Pizano and the head of the electrical generation industry association (ANDEG), Alejandro Castañeda look to reassure consumers that supply will not be affected in the coming dry season.
Starting at the beginning of May Colombia cut off gas exports to neighboring Venezuela to guarantee a constant supply of the resource considering the El Niño weather phenomenon. Venezuelan authorities are less than pleased and say the decision could impact its supply to Colombia in the future.
Rainfalls have fell short of expectations to keep hydro-energy on at full, but authorities say that the energy is well shielded against issues that could cause supply shortages, mainly due to a strong supply of gas. However generators do not want to see gas exports to Venezuela resume just yet.
GasThe Ministry of Mines and Energy Amylkar Acosta welcomed the announcement of a US$249M gas recovery program being implemented jointly by Ecopetrol (NYSE:EC) and Chevron (NYSE:CVX) that he says will extend Colombia’s gas reserves by eight years.
After a seven year dispute and hours before a government mandated deadline, miners Drummond and Carrejón have reached an agreement to proceed with the extraction of methane gas associated with a coal deposit in La Guajira.
An innocent question – are there official forecasts of natural gas production? – led to an interesting discussion of the definition of ‘production’ at least as used by industry in Colombia.
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