Colombia's gas imports soar 166.4% amid falling reserves

Colombia's gas imports grew 166.4% in the most recent twelve-month period, according to data published by the Colombian Mercantile Exchange (BMC-BEC). The increase reflects the South American country's shift toward greater reliance on external markets to supply its domestic demand.

According to the BMC-BEC, the country is purchasing volumes that reach 214.1 million cubic feet per day, mainly from Trinidad and Tobago and the United States. This external supply arrives through Sociedad Portuaria El Cayao, located in Cartagena, which operates as the only regasification terminal in the national territory.

The need to buy gas abroad responds to the decline of domestic natural gas reserves in the face of demand that continues to rise. Sector projections indicate that Colombia will become a net importer of this hydrocarbon after 2026, a structural change for a country that has traditionally stood out as an energy producer in the region.

Despite this new reality in the gas market, hydropower remains the backbone of Colombia's electricity system, accounting for about 70% of total power generation in the country, according to data released by the BMC-BEC.

Image generated with artificial intelligence.