LATIN AMERICA ADVISOR

Energy ADVISOR

A daily publication Of the dialogue

October 25, 2024

What Does a Major Gas Discovery Mean for Colombia?

Colombia’s natural gas reserves have ballooned after to a recent offshore discovery by state-owned Ecopetrol. An Ecopetrol gas facility is pictured. // File Photo: Colombian Government.

Q

A

Rodrigo Rosas, senior analyst for Americas gas research at Wood Mackenzie: “In recent years, Colombia has faced a significant drop in gas output, raising concerns about energy security, and forcing the country to turn to LNG imports to fill the gap. With lowered hydro levels, securing future gas supply is now critical. Offshore discoveries, such as the Sirius field, offer hope for self-sufficiency, but with first production not expected until 2030, the country remains exposed to supply shortfalls. As El Niño events become more frequent and severe due to climate change, LNG imports will be vital to meet Colombia’s energy demands. Colombia does hold immense potential for renewable energy, with abundant solar irradiation and favorable wind conditions. These natural advantages, coupled with attractive tax incentives for renewable energy projects, are key drivers…”

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ABOUT THE Energy ADVISOR

A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

board of advisors

Nigel Blackaby
Global Head, International Arbitration Group,
Freshfields Bruckhaus Deringer

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

María José Cortés
Head of ESG,
Atlas Renewable Energy

Jeffrey Davidow
Senior Counselor,
The Cohen Group

Analia Gonzalez
Leader, Arbitration & Litigation,
Laitn America, BakerHostetler

Jonathan C. Hamilton
Partner,
White & Case

Raul Herrera
Partner, Corporate &
Securities Practice,
Arnold & Porter

James R. Jones
Chairman,
Monarch Global Strategies

Jorge Kamine
Partner, Corporate &
Financial Services,
Willkie Farr & Gallagher

Craig A. Kelly
Senior Director,
Int’l Government Relations,
Exxon Mobil

Jeremy Martin
Director,
Energy Program,
Institute of the Americas

Larry Pascal
Chairman, Americas
Practice Group,
Haynes & Boone

R. Kirk Sherr
President,
Clearview Strategy Group

Daniela Stevens
Director,
Energy Transition and Climate Program,
Inter-American Dialogue

Doris Rodríguez
Partner,
Hunton Andrews Kurth

Alexandra Valderrama
Director,
International Government
Affairs, Chevron

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