Petrobras maintains its commitment to Sirius and dismisses that Venezuelan gas will affect the market in Colombia
The Sirius project would supply the country with approximately six cubic terajoules of energy. Photo: Courtesy
TL;DR
- Petrobras's Sirius project in Colombia is proceeding as planned, unaffected by potential gas imports from Venezuela.
- The project aims for long-term gas self-sufficiency, with construction starting in 2027 and operations in 2030.
- Environmental and social licensing, involving 120 communities and extensive consultations, is a critical path for the project's execution.
- Petrobras believes there is room for all gas sources in the market and does not foresee direct impacts from Venezuelan gas.
- The Sirius project is estimated to produce 470 million cubic feet per day, contributing significantly to domestic demand.
- Capital allocation for the project depends on geological factors, regulatory conditions, market stability, and contractual terms.
- Accelerating initial processes and reducing administrative procedures are identified as key to preserving investment value.
- The government supports gas development, recognizing its essential role in both current energy needs and the transition.