The Bolsa Mercantil de Colombia (BMC) held its official launch to mark its role as the “Amazon” of the natural gas market. No mention was made of the political forces who have been successful in circumventing the open market when it comes to pricing.
Yesterday we asked where Colombia’s supply of gas was coming from and today’s graph gives a hint.
The floating regasification plant that Promigás is building through a port consortium (El Cayao) has been completed, but the remainder of the plant awaits an environmental license to get started.
Natural gas distribution and commercialization firm Gas Natural Fenosa says that growth in the number of natural gas vehicles conversions stood out in its 24% increase in its sales volume during 2014.
Maybe finding gas has been seen as only a long double base hit, great news, but short of the high hopes of a home run. But the market forces in Colombia offer some protection from the turbulence of the global crude oil industry.
The official Weighted Average Cost of Capital (WACC), is still in the works and the president of the Natural Gas Association (Naturgas) Eduardo Pizano says that investments in infrastructure expansion are held up as a result.
Current reserves mean that the domestic gas network should have supply for another 10 years says the president of gas distributor Promigas Antonio Celia.
The association of propane gas distributors Gasnova reiterated its alarms that Ecopetrol (NYSE:EC) is taking measures to limit the supply of propane gas in Colombia to benefit its financial results, which it says will have a grave impact on the poorest populations in the country.
GasMinMinas reported that gas production rose in February due to “demand behavior for the Riohacha, Cupiagua, Cusiana and Pauto fields”. The graph shows that while February numbers rose, the trend is not so postitive.
An announcement from Ecopetrol (NYSE:EC) that it would restrict its public wholesale offer of propane could have an alarming impact on low income communities along with health and environmental implications says the Union of Colombian Propane Companies (Gasnova).
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