Colombia is in the midst of an energy crisis due to mismanagement and policy changes by President Petro, leading to dwindling natural gas reserves, increased reliance on costly imports, and threats to the energy grid. The country’s fiscal crisis is deepening amidst growing instability in the energy sector.

The decline in Colombia’s natural gas reserves, which fell to two trillion cubic feet by 2024, has raised concerns about the country’s energy security. With consumption on the rise and production declining, Colombia is facing a shortage of natural gas, impacting households and power plants heavily reliant on the fuel.

Colombia’s energy woes are exacerbated by President Petro’s policies to transition away from fossil fuels, leading to the closure of coal-fired plants and increased dependency on natural gas. The country is experiencing outages and brownouts due to electricity shortages, putting strain on the already limited natural gas supplies.

The shortage of natural gas in Colombia is driven by declining production rates at mature fields and a lack of major discoveries. Policies discouraging investment in the hydrocarbon sector have further hampered production, leading to a reliance on costly liquefied petroleum gas imports to meet demand.

Ecopetrol is pinning hopes on the Sirius natural gas discovery in the Guajira Basin to boost Colombia’s natural gas reserves and production. With the project expected to come online by 2030, the country aims to alleviate its energy crisis and reduce dependency on costly imports, providing a potential solution to the ongoing challenges in the sector.

Read more at Yahoo Finance: Petro’s Policies Are Decimating Colombia’s Natural Gas Industry