Colombia Struggles With Energy Crisis, Delays in Gas Projects

Colombia's state oil company, Ecopetrol SA, announced that natural gas from its Caribbean offshore projects is unlikely to start flowing before 2029, two years later than initially expected. This delay is a significant concern for the country, which anticipates a substantial natural gas shortfall beginning next year. The current supply-demand gap is around 12% and is projected to increase to 30% by 2026, exacerbating the energy crisis. To address this, Ecopetrol is investing $300 million this year in offshore drilling, marking its highest annual…