Bolsa Mercantil de Colombia (BMC) has presented the very first report of the Natural Gas Market Manager after it began operations six months ago which confirmed that supply is falling while demand rises, pushing prices up.
Political pressure on the regulatory framework to set natural gas prices continues to build uncertainty around the future prospects for the industry, as well as natural gas production and distribution.
Monday, July 20th, 2015 was not only the first day of the Farc’s unilateral truce but the last day of Senator David Name’s reign as president of the Colombian Congress. We can hope that the CREG can now get on with setting natural gas prices based on reason and not politics.
We have frequently noted the disconnect between the official statistics on gas demand (as shown in the chart) and the qualitative evidence of increased domestic gas coverage and vehicle conversions.
The expansion of the Sincelejo to Cartagena gas pipeline being planned by distributor Promigas has received its environmental license, allowing it to grow its capacity from 60mmcfpd to 165mmcfpd
Nothing seems to be 100% sure in the natural gas industry. Will a recent call for comments from the Ministry of Mines and Energy (MinMinas) on a planned resolution regarding planning for future gas consumption trends help clear things up?
The Energy and Gas Regulation Commission (CREG) has approved a change that allows Ecopetrol (NYSE:EC) to fix propane cylinder prices based on the internal price of natural gas, a move which the propane distribution association Gasnova says will hurt Colombia’s poorest.
The contraband market for producing and distributing propane is costing the formal industry millions a year and exposing consumers to undue risk, warned Evamaría Uribe, the president of the propane distribution association Gasnova.
The General Controller’s office has entered the debate on the supply of natural gas, warning that the country must have a clear strategy in order not to suffer a loss of self-sufficiency in the near future.
While industrial sectors call for an open bilateral negotiations of gas rates, electrical energy generators say that their needs are being cast aside to accommodate other sectors.
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