Venezuelan Gas Advances as an Option for Colombia, But Opens Debate on Real Costs and Dependence Risks
Exploration of offshore natural gas in Colombia Photo: Naturgas
TL;DR
- Colombia is importing natural gas from Venezuela to address a supply deficit.
- Technical challenges include repairing 4.7 km of the binational gas pipeline on the Colombian side.
- Legal hurdles include obtaining an international license for Ecopetrol's participation.
- The projected price of Venezuelan gas is around $6 per million BTU, but the final cost will include transportation.
- Experts warn against over-reliance on Venezuela, recalling past instances where supply was not met during critical times.
- The import aims to supplement current supply, which is insufficient, while Colombia continues to explore other energy sources like offshore projects and regasification.
- The projected initial supply is 60 million cubic feet per day, potentially increasing to 100 million within six months.
- The influx of cheaper Venezuelan gas could impact the viability of other import projects and regasification plants.