Colombia Explores New Options for Gas Imports  

As Colombia actively seeks to increase its natural gas imports, the country is exploring various options for gas suppliers. Although Venezuela has been considered a potential supplier, owing to its geographical proximity and the political rapprochement between Gustavo Petro and Nicolas Maduro, the challenges associated with the project have given prominence to alternative options.

Colombia needs natural gas

Colombia was for years an important energy exporter. However, the country is now facing the decline of its national fossil fuel production and the return of the El Niño climatic phenomenon, which severely affects hydroelectricity generation. Consequently, Colombia must now explore external options.

Initially, Venezuela was considered the most credible option to meet Colombia’s needs. However, the degradation of the Trans-Caribbean gas pipeline Antonio Ricaurte, which connects the two countries, has seriously called into question the viability of this option.

Indeed, the work to rehabilitate the gas pipeline is estimated to last at least one year. Moreover, this issue is not the only challenge facing gas imports from Venezuela, as potential new U.S sanctions against the country and the low quality of Venezuelan gas are also concerns.

Developing infrastructures in Colombia

Given this alarming situation, the Colombian gas sector is exploring the development of new gas facilities and infrastructures within Colombia. Presently, the largest gas terminal is located in Cartagena de Indias, on the Caribbean coast.

Earlier this year, an agreement was reached between the port operator and the Norwegian liquefied natural gas company Höegh to increase the regasification capacity from 400 to533 million cubic feet per day.

Other options being considered include constructing a new gas terminal in La Guajira Department, or an LNG plant on the Pacific coastline. Although 13 gas fields have been discovered in the Caribbean Sea and on the Pacific coast over the past two years, it will take several years before the first production reaches the market.

The gas industry represents an economic opportunity for Colombia, as the sector accounted for 20,000 jobs in 2023.