SUBSCRIBE
PROFILE

Ecopetrol seeks partners after Shell’s withdrawal from gas projects

Ecopetrol is developing a strategy to ensure the continuity of its offshore gas projects in the Caribbean following Shell's strategic withdrawal.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Ecopetrol S.A. has confirmed the development of a strategy aimed at ensuring the continuity of its gas projects in the southern Caribbean Sea, following Shell Plc’s withdrawal from three offshore projects. The Colombian group stated that this initiative aims to maintain medium-term energy supply and secure the exploitation of major discoveries.

Since 2020, Shell held 50% of the Col 5, Purple Angel and Fuerte Sur blocks, where gas discoveries Kronos-1, Purple Angel 1, Gorgon 1 and 2, and Glaucus 1 are located. Ecopetrol retains the other half of the shares and is now seeking new partners to ensure the continuation of operations. The national company indicated that these projects remain technically and economically viable.

Impact of Shell’s global strategy

Shell’s decision aligns with its March announcement to cut costs by several billion dollars and increase shareholder profitability while focusing on liquefied natural gas (LNG). Ecopetrol specified that this decision is linked to Shell’s global portfolio management strategy, without providing further details.

The withdrawal occurs amid an evolving energy context in Colombia, where the gas field discovery in 2017 was hailed as the largest in twenty-eight years. However, recent energy policy changes, driven by President Gustavo Petro since his election in 2022, have led to the suspension of several hydrocarbon exploration contracts.

Development of the Gorgon project and outlook

Ecopetrol plans to complete the technical maturation and socio-environmental viability management of the Gorgon project by the first half of 2029. Commercial production is envisaged between 2031 and 2032, relying on a connection to the National Transportation System to deliver the gas.

Meanwhile, Ecopetrol and Shell maintain their collaboration on other projects, including the development of the Gato do Mato field in Brazil in partnership with TotalEnergies SE, where significant investments are planned in 2025. Ecopetrol reaffirmed its commitment to developing strategic gas resources in the Caribbean Sea.

  • Popular on energynews.pro
Australia opens five new offshore blocks to secure gas supply
Natura acquires Shepherd Power and targets several gigawatts of nuclear reactors by 2032
Potentia Energy secures $553mn financing to support its Australian portfolio
Inlyte validates iron-sodium storage system ahead of 2026 deployment
Sinexcel installs its first 2MW energy storage system in the Japanese market
Sound Energy launches gas production at Tendrara after six-month delay
The British company begins the initial production phase of Morocco's Tendrara gas field, activating a ten-year contract with Afriquia Gaz amid phased technical investments.
United States: winter cold drives up natural gas price forecasts
The Energy Information Administration revises its gas price estimates upward for late 2025 and early 2026, in response to strong consumption linked to a December cold snap.
Venture Global rejects Shell’s fraud allegations in LNG arbitration dispute
Venture Global denies Shell’s claims of fraud in an LNG cargo arbitration and accuses the oil major of breaching arbitration confidentiality.
China receives first Russian LNG shipment via sanctioned Beihai terminal
The Valera LNG carrier delivered a shipment of liquefied natural gas (LNG) from Portovaya, establishing a new energy route between Russia and China outside Western regulatory reach.
Hungary hosts TurkStream headquarters after asset freeze in the Netherlands
South Stream Transport B.V., operator of the offshore section of the TurkStream pipeline, has moved its headquarters from Rotterdam to Budapest to protect itself from further legal seizures amid ongoing sanctions and disputes linked to Ukraine.
Panama Canal sidelined as US LNG flows shift decisively toward Europe
US LNG exports are increasingly bypassing the Panama Canal in favour of Europe, seen as a more attractive market than Asia in terms of pricing, liquidity and logistical reliability.
IOC seeks spot LNG cargo for Dahej as Russian sanctions tighten
Indian Oil Corporation has issued a tender for a spot LNG cargo to be delivered in January 2026 to Dahej, as Asian demand weakens and Western restrictions on Russian gas intensify.
McDermott secures EPCIC contract for gas project offshore Brunei
McDermott has secured a major engineering, procurement, construction, installation and commissioning contract for a strategic subsea gas development offshore Brunei, strengthening its presence in the Asia-Pacific region.
Fluor and JGC deliver second LNG Canada unit in Kitimat
The partnership between Fluor and JGC has handed over LNG Canada's second liquefaction unit, completing the first phase of the major gas project on Canada’s west coast.
NOG acquires 49% stake in Utica gas assets for $588mn with Infinity
Northern Oil and Gas and Infinity Natural Resources invest $1.2bn to acquire Utica gas and infrastructure assets in Ohio, strengthening NOG’s gas profile through vertical integration and high growth potential.
Sanctioned Russian LNG vessel delivers to China’s Beihai port
China has received its first liquefied natural gas shipment from Russia’s Portovaya facility, despite growing international sanctions targeting Russian energy exports.
Brazil’s free gas market reaches 13.3 Mcmd with unprecedented industrial shift
Brazil’s natural gas market liberalisation has led to the migration of 13.3 million cubic metres per day, dominated by the ceramics and steel sectors, disrupting the national competitive balance.
Sasol inaugurates gas processing unit to supply Temane thermal power plant
Sasol has launched a new gas processing facility in Mozambique to secure fuel supply for the Temane thermal power plant and support the national power grid’s expansion.
Congo LNG reaches 3 mtpa and anchors the strategic gas axis between Eni and Europe
With the addition of Nguya FLNG to Tango, Eni secures 3 mtpa of capacity in Congo, locking in non-Russian volumes for Italy and positioning Brazzaville within the ranks of visible African LNG exporters.
JERA signs 10-year LNG supply deal with Torrent Power
Japan’s JERA has signed a liquefied natural gas supply contract with India’s Torrent Power for four cargoes annually from 2027, marking a shift in its LNG portfolio toward South Asia.
NEO NEXT+ becomes the UKCS’s largest gas producer with TotalEnergies and Repsol
The merger of TotalEnergies and Repsol’s UK assets into NEO NEXT+ creates a 250,000 barrels of oil equivalent per day operator, repositioning the majors in response to the UK’s fiscal regime and basin decline.
QatarEnergy steps up pressure on the EU in response to the CSDDD directive
Climate requirements imposed by the European due diligence directive are complicating trade relations between the European Union and Qatar, jeopardising long-term gas supply as the global LNG market undergoes major shifts.
Colombia: electrification could avoid $190mn in gas imports by 2030
A report forecasts that improved industrial energy efficiency and residential electrification could significantly reduce Colombia’s need for imported gas by 2030.
US oil activity slows as gas drives M&A rebound in 2026
Falling rig counts and surging natural gas demand are reshaping the Lower 48 energy landscape, fuelling a rebound in gas-focused mergers and acquisitions.
Nigeria unlocks $128 million to repay gas debts
The Nigerian government has approved a payment of NGN185bn ($128 million) to settle debts owed to gas producers, aiming to secure electricity supply and attract new investments in the energy sector.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.