Concerned that declining natural gas reserves could make it a net importer in two years, Colombia plans to award a construction contract for an LNG import terminal capable of processing up to 350 NMMcf/d beginning in December 2015.
Officials said the $400 million plant will provide enough gas to supply all of Colombia’s thermal power plants and address what regulators warn may be a natural gas deficit by 2015.
The terminal could be supplied with LNG from Trinidad-Tobago or by planned LNG export plants on the U.S. Gulf Coast, Platts reported. Colombia produces nearly 1.2 Bcf/d, enough to meet domestic demand and export 20% of the volume to Venezuela. Reserves are falling fast with no new discoveries. Anadarko, Petrobras and Ecopetrol are planning to drill three offshore wells targeting gas.