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Industry Group Warns Of Natural Gas Shortfall

COLOMBIA
  • Industry group Naturgas said in a statement that Colombia is set face a daily natural gas shortfall next year of around 120 giga BTU, equivalent to about 12% of the nation’s average daily demand of the fuel, according to Bloomberg.
  • In 2026, the shortfall will increase to 350 giga BTUs or about 30% of demand. The shortfall could lead to higher prices for natural gas which for now represents only 0.8% of the consumer basket.
  • USDCOP has risen by 1% today to 4052, amidst the risk-off theme across markets, taking the pair to the top of its more recent 3980-4050 range. Analysts note that more meaningful COP depreciation to 4200 or above may have to wait until BanRep accelerates rate cuts later in H2.

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