Amazónica LNG's Regasification Plant Enhances Caribbean Energy Security
Amazónica LNG's $150 million investment in Colombia's first onshore regasification plant aims to mitigate gas shortages in the Caribbean. The facility will supply up to 150 million cubic feet per day, addressing a critical supply gap as imports may rise to 40% of consumption within two years.
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Amazónica LNG is developing Colombia's first onshore regasification terminal in Palermo, Magdalena, with a projected investment of $150 million. This project is crucial as Colombia faces a potential strong El Niño and a significant reduction in gas supply from Canacol Energy, which has decreased from 200 million to 70 million cubic feet daily.
The terminal will have a regasification capacity of 150 million cubic feet per day, covering 15% of Colombia's total demand. It features two storage tanks with 30,000 m³ capacity each and has secured the necessary environmental licenses and exclusive port concessions.
Vitol will supply gas, while MUFG leads financing and Jereh constructs the tanks. The project is expected to create 100 to 300 jobs and benefit 700,000 households in Atlántico and Magdalena. As Colombia transitions to renewable energy, natural gas will play a vital role in ensuring energy stability for future investments.
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