Colombia: More LNG to be imported in September 2024 in the face of falling water levels

In September 2024, Colombia’ s imports of liquefied natural gas (LNG) will grow considerably.
Available data show that around 150,000 metric tons of LNG have already been imported this month.
This increase, compared to the 120,000 metric tons imported in September 2023, is explained by the country’s need to compensate for its declining hydroelectric output. Indeed, water reserves in the dams used to generate electricity, which account on average for 70% of the energy produced, fell to 50.2% during the month, marking a historically low level.
Colombia, largely dependent on hydroelectricity, must therefore step up the use of its gas-fired power plants to maintain a balance in electricity supply.
SPEC LNG’s Cartagena terminal is at the heart of this strategy, with the arrival of several tankers, including the Marvel Crane and BW Magnolia, carrying LNG cargoes crucial to maintaining power generation.