Colombia’s Ecopetrol has contracted PIO for regasification services on the Pacific Coast, establishing infrastructure in Buenaventura and Buga. The facilities aim to address a projected gas shortage by 2025, enabling imports and ensuring supply for over 40 million citizens as Ecopetrol invests significantly in exploration to enhance energy sustainability.
Colombia’s state-run oil and gas enterprise, Ecopetrol, has awarded a contract to Puertos, Inversiones y Obras (PIO) for regasification services along the Pacific Coast. This initiative is designed to establish new infrastructure that includes receipt, storage facilities in Buenaventura, and a regasification facility in Buga, which will have a capacity of 60 million cubic feet per day (mcfd). Operations are anticipated to commence in the second quarter of 2026.
Ecopetrol regards this contract as a vital measure for diversifying the country’s natural gas supply ahead of the anticipated operationalization of offshore projects. Buenaventura is also slated for the Andes Energy Terminal (AET), with a feasibility study conducted by Black & Veatch concluding in May 2024.
Given the projected natural gas shortfall in 2025, Colombia is expected to rely heavily on imports for its gas supply, making the enhancement of regasification capabilities on the Pacific Coast imperative. Ecopetrol has noted that this new source will cater to the growing demand for natural gas in the interior, benefiting over 40 million Colombian citizens.
To further bolster its operational capacity, Ecopetrol plans to invest $1.37 billion in exploration efforts over the next three years, reinforcing its commitment to energy sustainability within the country. Notably, a significant natural gas discovery offshore Colombia was confirmed by Ecopetrol and its partner Petrobras late last year, touted as the nation’s most substantial gas find to date.
In conclusion, Ecopetrol’s contract with PIO for regasification services represents a strategic response to Colombia’s impending natural gas shortage. With enhanced infrastructure and investments, the company aims to secure a robust supply of natural gas for domestic use while pursuing significant offshore discoveries to ensure energy sustainability.
Original Source: www.offshore-energy.biz
