Colombia's gas supply outlook to meet increasing demand

Colombia's gas proven reserves have been decreasing over the past decade and current volumes are sufficient to cover eight years at current consumption rates. In fact, gas demand is expected to overcome supply by 2024-25. The magnitude of the gap will depend largely on the outcome of new offshore and unconventional developments and will likely be covered by LNG imports. Although both offshore and unconventionals are expected to replace a large portion of the declining production from current onstream fields, they are in still in their early stages and face large uncertainties.