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.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

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.

Cairo has concluded three new exploration agreements with Apache, Dragon Oil and Perenco, for a total investment of over $121mn, as national gas output continues to decline.
The Iris carrier, part of the Arctic LNG 2 project, docked at China’s Beihai terminal despite US and EU sanctions, signalling intensifying gas flows between Russia and China.
Blackstone Energy Transition Partners announces the acquisition of a 620-megawatt gas-fired power plant for nearly $1bn, reinforcing its energy investment strategy at the core of America’s digital infrastructure.
Argentina aims to boost gas sales to Brazil by 2030, but high transit fees imposed by Bolivia require significant public investment to secure alternative routes.
The accelerated arrival of Russian cargoes in China has lowered Asian spot LNG prices, but traffic is set to slow with the seasonal closure of the Northern Sea Route.
Nigeria and Libya have initiated technical discussions on a new pipeline project to transport Nigerian gas to Europe through the Mediterranean network.
Shipments of liquefied natural gas and higher pipeline flows strengthen China’s gas optionality, while testing the sanctions regime and reshaping price–volume trade-offs for the next decade.
The Canadian government aims to reduce approval delays for strategic projects, including liquefied natural gas, nuclear and mining operations, amid growing trade tensions with the United States.
Liquefied natural gas exports in sub-Saharan Africa will reach 98 bcm by 2034, driven by Nigeria, Mozambique, and the entry of new regional producers.
Backed by an ambitious public investment plan, Angola is betting on gas to offset declining oil output, but the Angola LNG plant in Soyo continues to face operational constraints.
Finnish President Alexander Stubb denounced fossil fuel imports from Russia by Hungary and Slovakia as the EU prepares its 19th sanctions package against Moscow.
Japanese giant JERA has signed a letter of intent to purchase one million tonnes of LNG per year from Alaska, as part of a strategic energy agreement with the United States.
US-based Chevron has submitted a bid with HelleniQ Energy to explore four offshore blocks south of Crete, marking a new strategic step in gas exploration in the Eastern Mediterranean.
GTT has been selected by Samsung Heavy Industries to design cryogenic tanks for a floating natural gas liquefaction unit, scheduled for deployment at an offshore site in Africa.
A consortium led by BlackRock is in talks to raise up to $10.3 billion to finance a gas infrastructure deal with Aramco, including a dual-tranche loan structure and potential sukuk issuance.
TotalEnergies commits to Train 4 of the Rio Grande LNG project in Texas, consolidating its position in liquefied natural gas with a 10% direct stake and a 1.5 Mtpa offtake agreement.
US producer EQT has secured a twenty-year liquefied natural gas supply contract with Commonwealth LNG, tied to a Gulf Coast terminal under development.
The Chief Executive Officer of TotalEnergies said that NextDecade would formalise on Tuesday a final investment decision for a new liquefaction unit under the Rio Grande LNG project in the United States.
Monkey Island LNG has awarded McDermott the design of a gas terminal with a potential capacity of 26 MTPA, using a modular format to increase on-site output density and reduce execution risks.
The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.

Log in to read this article

You'll also have access to a selection of our best content.