Colombia expected to sharply increase LNG imports if domestic production does not grow

摘要

Colombia could be forced to sharply increase LNG imports between 2021 and 2023 amid declining natural gas reserves and production eclipsed by double-digit growth in domestic consumption. “Natural gas is a fundamental fuel for energy transformation, however, for every trillion cubic foot produced, we are only incorporating 0.7 to our proven reserves,” the country’s energy minister, María Fernanda Suarez, said Tuesday during an interview broadcast by radio Caracol Colombia. “Work continues on offshore exploration and other alternatives that the country has, [especially] unconventional through fracking,” she said.