Petro announced that he will bring gas from Venezuela "much cheaper", but repairing the pipeline would take up to two years
President Gustavo Petro affirmed that Colombia will import Venezuelan gas at a lower price, in a context marked by signs of opening in the energy sector in Venezuela and flexibilities in international sanctions. However, the binational Antonio Ricaurte gas pipeline - the main infrastructure for gas transport between the two countries - is not yet operational and will require both time and investment to function again.
TL;DR
- Colombia plans to import natural gas from Venezuela at a lower cost.
- The Antonio Ricaurte binational gas pipeline is the primary infrastructure but is not operational.
- Reactivating the gas pipeline is estimated to take 9-12 months and require over $30 million in investment, with potential operation by Q2 2027.
- Some experts believe pipeline repairs could take 1.5 to 2 years.
- Alternative transport methods like maritime transport of compressed gas or road transport are considered temporary and costly.
- The pipeline has been out of service for nearly 10 years due to deterioration and damage.
- The announcement follows U.S. flexibilities on sanctions against Venezuela's energy sector and reforms in Venezuelan law allowing private and foreign investment.
- Ecopetrol, Colombia's state oil company, may participate in Venezuelan energy projects.