Colombia Energy Articles & Analysis

Chapter | Energy & Utilities from The Report: Colombia 2017

The Colombian energy sector can look forward to increased investment in 2017 and 2018. With a crisis in the electricity sector narrowly avoided, the government is reassessing its strategy to improve energy security. In the hydrocarbons segment, 2017 will see major investments in offshore exploration, which represents the best possibility for the country to maintain energy self-sufficiency,...

Following a landmark peace agreement and a late-2016 tax reform package, 2017 looks to be a year of significant promise for Colombia. The country has been in recovery since the 2014 collapse in oil prices, which predominantly affected exports, government revenues and the exchange rate. However, with the external sector acting as a shock absorber, the authorities helped ensure that domestic demand was able to pick up some of the slack.

 

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What steps are being taken to improve investor confidence in Colombia’s oil and gas industry as legal uncertainties prevail in the sector?

 

In recent years Latin American nations have enthusiastically embraced renewable energy sources, and a total of $16.5bn has been invested in the segment across the continent. In November 2016 Chile inaugurated the $343m, 196-MW El Romero solar power plant, which provides enough power to fuel a city of 1m people; while Costa Rica ran on entirely...

 

After a challenging 2016, the Colombian oil industry entered 2017 with renewed optimism. In line with other crude-exporting countries, the fall in global oil prices starting in mid-2014 affected investment in the sector as well as government coffers. Country-specific problems during this time included a continued security threat from armed...

 

In November 2016 Colombia received its first import of liquefied natural gas (LNG) at the Sociedad Portuaria El Cayao (SPEC) terminal in Cartagena. The cargo, sourced from Trinidad and Tobago’s Atlantic LNG facility, was delivered by a floating storage regasification unit (FSRU) owned by Norwegian firm Höegh Grace. A year after a serious...

 

How were the challenges faced by Colombia’s electricity sector in 2016 handled in an efficient way, and what lessons were learned?

Following a landmark peace agreement and a late-2016 tax reform package, 2017 looks to be a year of significant promise for Colombia. The country has been in recovery since the 2014 collapse in oil prices, which predominantly affected exports, government revenues and the exchange rate. However, with the external sector acting as a shock absorber, the authorities helped ensure that domestic demand was able to pick up some of the slack.