Damaged Gas Pipeline Could Stall Colombia’s Plan to Import Gas

It is unlikely that Colombia will achieve its aim of starting natural gas imports from Venezuela in 2024, as the pipeline connecting the two countries requires urgent repairs, according to Bloomberg.

• Colombia’s state producer Ecopetrol announced in November that it was studying the possibility of importing natural gas from Venezuela by the end of 2024.
• However, the 224km pipeline is inactive and has deteriorated such that it is not in working condition.
• Analysts expect Colombian gas demand to exceed supply by 2028,
• The biggest hope for Colombia to reverse the depletion of its natural gas reserves depend in offshore development.
• Yet, if supply is to be ready by 2028. Hence, the government, which wants to phase out oil and gas use, must accelerate license approvals.