Colombia is facing an energy crisis due to dwindling oil and natural gas production, leading to a serious natural gas shortage. Natural gas reserves are declining, with production at its lowest level in over a decade. The country’s leftwing President Petro has banned exploration drilling, exacerbating the issue. Sharp declines in natural gas reserves and production are straining Colombia’s power grid, leading to brownouts and blackouts. The country has started importing liquefied natural gas (LNG) to meet its needs, with imports skyrocketing in recent years due to severe droughts affecting hydroelectric plants. The Colombian Natural Gas Association predicts that by 2029, Colombia will need to import 56% of its natural gas supply due to the widening shortfall in production.

Read more at Yahoo Finance: Dwindling Gas Reserves Threaten Colombia’s Economy and Power Grid