Colombia is expanding its regasification capacity to counter a projected gas shortage. Ecopetrol has contracted PIO to develop storage and regasification facilities on the Pacific Coast, scheduled to be operational by Q2 2026. With a natural gas deficit expected in 2025, this initiative aims to secure supply for over 40 million Colombians, ensuring energy sustainability through significant investments in exploration.
Colombia is enhancing its regasification capabilities to address an impending natural gas shortage. The state-owned oil and gas company Ecopetrol has awarded a contract to Puertos, Inversiones y Obras (PIO) to establish regasification facilities along the Pacific Coast. This infrastructure will include storage and regasification capacity in Buga, projected to operate by the second quarter of 2026.
Ecopetrol has indicated that this contract is crucial for diversifying the supply of natural gas ahead of upcoming offshore projects. Buenaventura is also the location for the planned Andes Energy Terminal (AET), and a feasibility study for this project was completed by Black & Veatch in May 2024. Colombia anticipates a natural gas deficit by 2025, necessitating increased imports to meet domestic needs.
The new regasification facilities are expected to significantly enhance supply, benefiting over 40 million Colombians. In alignment with this initiative, Ecopetrol has committed to investing $1.37 billion in exploration efforts over the next three years to reinforce the stability of the oil and gas sector. In a significant discovery, Ecopetrol and Petrobras revealed a major offshore natural gas find that is considered the country’s most substantial discovery to date.
In conclusion, Colombia is proactively addressing its future natural gas needs by improving its regasification infrastructure, particularly through Ecopetrol’s partnership with PIO. This strategic investment and infrastructure expansion will help mitigate the anticipated gas deficit while enhancing energy security for the nation. With ongoing exploration efforts, the country is committed to achieving greater energy sustainability amidst rising demands.
Original Source: www.offshore-energy.biz
