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Colombia’s Ecopetrol Looks for Exemption to Import Venezuelan Gas

NATGAS

Colombia’s Ecopetrol is looking to obtain an exemption from the USA which would allow it to import natural gas from Venezuela, according to Bloomberg.

  • The South American country is facing a supply deficit of natural gas for power plants starting next year and will require imports to make up the shortfall.
  • Venezuelan gas is one option, but the reimplementation of US sanctions on its energy industry adds complexity. Under the new US regulations, companies can apply for individual exemptions.
  • In addition to an exception from the US sanctions, Colombia will also need to repair its 224km gas pipeline connecting it with Venezuela, which will take 10-12 months.

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