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Colombia's Gas Supply Crisis Spurs LNG Terminal Push
9 May
Summary
- Colombia prioritizes a new LNG import terminal to address gas supply shortages.
- The Ballena LNG project, costing $150 million, is key to the energy strategy.
- The terminal aims to operate by early 2028, easing a significant gas deficit.
Colombia is moving forward with its planned liquefied natural gas import terminal, the Ballena LNG project, to address a critical shortfall in its domestic gas supply. This initiative has been officially designated as a priority by the government, which is actively seeking ways to secure additional gas from other nations.
The $150 million Ballena LNG project, located in the northern La Guajira province, is a key component of Colombia's strategy to meet its energy demands. The project's inclusion on the government's priority list ensures investment recovery and designates the facility as a public, regulated asset accessible to all users.
The facility is slated to utilize a floating storage and regasification unit (FSRU) connected to existing gas infrastructure. Transportadora de Gas Internacional (TGI), the project's proponent, plans to make a final investment decision by June 15. The terminal is expected to commence operations in the first quarter of 2028 or sooner, contingent upon regulatory and environmental approvals.
Colombia is currently experiencing a gas supply deficit close to 200 MMcfd, a figure projected to rise to 310 MMcfd by next year. This deficit highlights the urgent need for imported LNG to meet electricity generation requirements for years to come, underscoring the importance of new import facilities.
