Colombia’s looming natural gas shortage has reignited debate over where to build the country’s next regasification terminal, or whether it should, in fact, build two.
On Colombia’s Caribbean coast, the Coveñas maritime terminal serves as the beating heart of the country’s oil exports, a complex that moves between 90% and 95% of all crude shipped abroad.
Colombia’s industrial sector is bracing for a challenging energy outlook. Following recent maintenance work at the Cartagena regasification terminal, which nearly led to rationing in the Caribbean region, industrial leaders are now warning of a 50% increase in natural gas prices by 2026, alongside growing uncertainty about supply.
Global oil markets are heading toward a potential glut, as production rises faster than demand over the next two years, according to the International Energy Agency (IEA).
Colombia’s natural gas industry has made major strides toward decarbonization, achieving a 27.1% reduction in greenhouse gas (GHG) emissions compared to 2022 levels, according to the 2024 Carbon Footprint Report released by Naturgas.
Norte de Santander is setting its sights on becoming a regional energy and logistics hub, with plans for a modular refinery operating under a free trade zone regime, major highway improvements, and a freight train to connect the department with the Caribbean coast.
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