Colombia’s reliance on imported natural gas has reached a critical juncture, with the country’s sole existing import terminal in Cartagena effectively fully contracted.
The SPEC terminal, which handles a third of the nation’s gas imports, has seen its capacity spoken for by three major power stations, leaving little room for additional spot purchases or strategic reserves.
With imports accounting for 33% of total consumption in early July—up from 31% in June—the margin for error in the supply chain is narrowing.
This structural bottleneck intensifies supply concerns as Colombia navigates the onset of the El Niño weather phenomenon, which typically drives higher energy demand for cooling and can disrupt domestic hydroelectric generation.
With imports accounting for 33% of total consumption in early July—up from 31% in June—the margin for error in the supply chain is narrowing.
The concentration of import infrastructure creates a single point of failure for the national grid.
While a new Pacific terminal is scheduled to begin operations on November 1, providing a crucial supply buffer for state-owned producer Ecopetrol, the gap between now and that date leaves the market exposed to volatility.