popular articles

Colombia investigates speculation on gas prices imported from Qatar

Colombian President Gustavo Petro has ordered an investigation into alleged price speculation by local gas suppliers in response to price spikes reaching up to 36%, and announced a new import agreement with Qatar.

Please share:

Colombian President Gustavo Petro has ordered an official investigation into pricing practices of gas companies operating in Colombia, citing alleged cases of speculation concerning imported gas prices. According to Colombian authorities, several cities, including the capital Bogotá, have recently experienced price hikes of up to 36% in both domestic and industrial gas markets. Petro asserts that distributors are unfairly aligning local gas prices with those of imported gas, causing distortions within the domestic market. In response, the Colombian president announced an unprecedented direct gas import agreement with Qatar through the national oil company, Ecopetrol.

The reasons behind the presidential decision

Until now, Colombia primarily imported gas from the United States and Trinidad and Tobago. Therefore, this new agreement with Qatar represents a first for the country, driven by the official intent to stabilize domestic gas market prices. According to Gustavo Petro, importing gas from Qatar will allow Ecopetrol to obtain more competitive pricing, potentially benefiting Colombian consumers directly. While Petro did not specify the precise savings expected, he indicated the measure addresses months of tension arising from conflicting claims between suppliers and the government.

An investigation to regulate Colombia’s gas market

The president further stated that companies refusing to cooperate with the government’s investigation could potentially face exclusion from the Colombian gas market. At this stage, authorities have not publicly identified specific companies nor have targeted actions been taken against any suppliers. Nonetheless, Gustavo Petro explicitly referenced what he described as “theft,” publicly accusing certain gas suppliers of selling imported gas at significantly inflated prices compared to international benchmarks. Through this investigation, the Colombian government seeks to strengthen its ability to regulate internal market dynamics, particularly reducing vulnerability related to volatile international gas prices.

A delicate energy context in Colombia

Colombia’s decision comes amid broader uncertainties in its energy sector, following the government’s move in 2024 to cease awarding new contracts for oil and gas exploration. This policy, advocated by President Petro as part of a broader shift toward alternative energy sources, remains hotly debated within Colombia’s energy industry. Analysts within the energy sector have cautioned that discontinuing new gas explorations could lead to increased reliance on imports and potential future shortages. The move to import more gas from Qatar thus represents a critical step, raising important questions about the long-term implications for Colombia’s energy security.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The Algerian state utility plans a 56% increase in 2025 investment, targeting domestic network expansion and electricity export growth towards Europe and Africa.
Wood Mackenzie warns of a potential gas supply deficit in Indonesia, due to slow development of untapped resources and a lack of attractive regulatory framework.
Wood Mackenzie warns of a potential gas supply deficit in Indonesia, due to slow development of untapped resources and a lack of attractive regulatory framework.
Mubadala Energy will supply natural gas to two Pupuk Indonesia plants starting in late 2028, when production begins at the South Andaman block, according to statements made at an industry forum in Jakarta.
Mubadala Energy will supply natural gas to two Pupuk Indonesia plants starting in late 2028, when production begins at the South Andaman block, according to statements made at an industry forum in Jakarta.
QatarEnergy is set to begin liquefied natural gas production in the US by the end of 2025 and expand its North Field East project in Qatar starting mid-2026.
QatarEnergy is set to begin liquefied natural gas production in the US by the end of 2025 and expand its North Field East project in Qatar starting mid-2026.
TotalEnergies has signed a 20-year contract to purchase 2 million tonnes per annum (Mtpa) of LNG from Ksi Lisims LNG, a liquefaction project located in British Columbia, Canada.
Shell shareholders approved 21 out of 22 resolutions at the Annual General Meeting, rejecting a motion related to liquefied natural gas activities despite strong overall support for the group’s strategy.
Shell shareholders approved 21 out of 22 resolutions at the Annual General Meeting, rejecting a motion related to liquefied natural gas activities despite strong overall support for the group’s strategy.
An Australian tribunal has approved Santos' $2.3 billion Narrabri gas project despite objections from Indigenous communities and environmental concerns, citing major public benefits for gas supply.
An Australian tribunal has approved Santos' $2.3 billion Narrabri gas project despite objections from Indigenous communities and environmental concerns, citing major public benefits for gas supply.
Kurdistan signs oil and gas development agreements with HKN Energy and Western Zagros worth $110bn over the projects’ lifespan.
Kurdistan signs oil and gas development agreements with HKN Energy and Western Zagros worth $110bn over the projects’ lifespan.
Indonesian state-owned oil company PT Pertamina has signed ten gas sales agreements with domestic firms, including gas distributor PGN and electricity provider PLN.
Physical and derivatives trading of liquefied natural gas in Asia reached unprecedented levels during the June pricing period, with a significant increase in bids and transactions amid the shoulder season.
Physical and derivatives trading of liquefied natural gas in Asia reached unprecedented levels during the June pricing period, with a significant increase in bids and transactions amid the shoulder season.
Mexico could eliminate imports of 384 billion cubic feet of gas per year by reaching 45% clean electricity by 2030, according to Ember.
Mexico could eliminate imports of 384 billion cubic feet of gas per year by reaching 45% clean electricity by 2030, according to Ember.
Energean transfers its offshore stakes in Morocco to Chariot just one year after entering the market, following below-expectation outcomes from the Anchois-3 gas well.
Energean transfers its offshore stakes in Morocco to Chariot just one year after entering the market, following below-expectation outcomes from the Anchois-3 gas well.
Ankara announces the discovery of a new Black Sea gas reserve worth $30bn as part of its strategy to boost public investment in the energy sector.
Two new oil and gas sites in the Natuna Sea are expected to produce 20,000 barrels of oil and 60 million cubic metres of gas per day.
Two new oil and gas sites in the Natuna Sea are expected to produce 20,000 barrels of oil and 60 million cubic metres of gas per day.
A CAD715mn ($524mn) partnership enables First Nations to co-own the Westcoast system, backed by a federal loan guarantee of CAD400mn ($293mn).
A CAD715mn ($524mn) partnership enables First Nations to co-own the Westcoast system, backed by a federal loan guarantee of CAD400mn ($293mn).
Tallgrass Energy announces plans for a pipeline directly connecting the Permian Basin to the Rockies Express network, scheduled to start operations in late 2028 after securing initial commercial agreements with key shippers.
Tallgrass Energy announces plans for a pipeline directly connecting the Permian Basin to the Rockies Express network, scheduled to start operations in late 2028 after securing initial commercial agreements with key shippers.
Woodside Energy has announced a collaboration agreement with Saudi Aramco for a potential stake in its $17.5bn liquefied natural gas project in Louisiana, scheduled to begin production in 2029.
Sinopec announced a new vertical depth record with its Tiebei 1HF well, reaching 5,300 metres and producing over 314,000 cubic metres of gas per day in the Sichuan Basin.
Sinopec announced a new vertical depth record with its Tiebei 1HF well, reaching 5,300 metres and producing over 314,000 cubic metres of gas per day in the Sichuan Basin.
McDermott has completed the offshore installation of the Scarborough floating platform for Woodside Energy, marking a key step in the preparatory maintenance phase of the gas project in Western Australia.
McDermott has completed the offshore installation of the Scarborough floating platform for Woodside Energy, marking a key step in the preparatory maintenance phase of the gas project in Western Australia.
The fund managed by ArcLight Capital Partners has acquired 25% of Natural Gas Pipeline Company of America, bringing its total stake to 62.5% alongside Kinder Morgan.
The fund managed by ArcLight Capital Partners has acquired 25% of Natural Gas Pipeline Company of America, bringing its total stake to 62.5% alongside Kinder Morgan.
NRG Energy acquires energy assets from LS Power, including 18 natural gas power plants, to strengthen its portfolio amid expected growth in U.S. electricity demand.
Diaco Aviki succeeds Thomas King at the helm of Woodway Energy Infrastructure amid expansion of its natural gas infrastructure in Texas.
Diaco Aviki succeeds Thomas King at the helm of Woodway Energy Infrastructure amid expansion of its natural gas infrastructure in Texas.
Brussels announces a full exit from Russian gas by the end of 2027, despite a remaining 9% dependency and pressure on the global liquefied natural gas market.
Brussels announces a full exit from Russian gas by the end of 2027, despite a remaining 9% dependency and pressure on the global liquefied natural gas market.
US-based SiEnergy strengthens its footprint around Houston by acquiring Hughes Gas Resources, an EPCOR subsidiary, for $60mn, expanding its natural gas asset portfolio.
US-based SiEnergy strengthens its footprint around Houston by acquiring Hughes Gas Resources, an EPCOR subsidiary, for $60mn, expanding its natural gas asset portfolio.

Advertising