Colombia Faces Looming Gas Deficit, Industry Warns of Limited Capacity
BOGOTÁ - Colombia’s natural gas supply is operating at its maximum capacity, leaving the nation vulnerable to shortages and hindering its ability to respond to unforeseen disruptions, according to Naturgas, the country’s natural gas association. The warning comes as the nation grapples with increasing demand and declining local production, potentially leading to a 50% gas deficit by the end of the decade without significant new sources.
The potential shortfall underscores Colombia’s growing reliance on gas imports and the critical need for both expanded import infrastructure and increased domestic exploration. Naturgas highlighted two key projects aimed at boosting import capacity: the expansion of the SPEC regasification plant in Cartagena and the Buenaventura terminal, both receiving investment from ecopetrol. A further project in Coveñas (Sucre) is also planned. However, these expansions may not be enough to offset dwindling local supply.
“We are operating at the limit, we have no room for maneuver to react to contingencies,” Naturgas stated, emphasizing the urgency of the situation. The industry is pinning hopes on the Sirius offshore well, developed jointly by Petrobras and Ecopetrol, as a potential game-changer capable of restoring Colombia’s gas self-sufficiency.
In 2024, the natural gas industry invested US$817 million in exploration and production projects. The sector also contributed $3.3 billion in taxes and royalties and allocated US$18 million to social investment programs, benefiting approximately 1.5 million Colombians across 190 municipalities.Despite these contributions, the long-term sustainability of Colombia’s gas supply remains a pressing concern.
