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.
Mónica de Greiff, lawyer, former Minister of Justice, and President of the Bogotá Chamber of Commerce, has officially resigned from the Board of Directors of Ecopetrol (NYSE: EC).
Despite recent optimism from the government, Colombia remains far from meeting the core requirements to become a full member of the International Energy Agency (IEA), one of the world’s most influential energy organizations.
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