Colombia is set to begin importing liquefied natural gas through a new Pacific terminal on November 1, providing a critical supply buffer for state-owned producer Ecopetrol ahead of the El Niño weather phenomenon.
The facility, located on the country's Pacific coast, marks a strategic shift in Colombia's energy infrastructure as domestic production struggles to meet demand.
Industry association Naturgas recently reported a 17% decline in proven reserves, raising alarms about supply adequacy.
The timing of the terminal's launch is driven by urgent supply concerns.
Colombia's proven natural gas reserves have contracted by more than half since 2018, fundamentally altering the nation's energy balance sheet.
Industry association Naturgas recently reported a 17% decline in proven reserves, raising alarms about supply adequacy.
The approaching El Niño drought threatens to further strain domestic generation and distribution, making imported gas a necessary hedge against potential shortages.