Colombia Prepares for Increased LNG Imports Amid El Niño Forecast
Colombia's electricity generation is at risk due to an anticipated El Niño, leading to increased LNG imports. The energy sector must adapt to ensure supply stability, with potential impacts on electricity prices and generation capacity.
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Colombia is set to enhance its liquefied natural gas (LNG) imports in response to the forecast of an El Niño phenomenon, expected to develop before August and persist until year-end. This event is likely to create dry conditions that threaten the electrical system, which relies on hydroelectric power for approximately two-thirds of its output.
Currently, the country imports around 210 million cubic feet of LNG daily, primarily through the SPEC terminal, with plans to fully utilize its 475 million cubic feet capacity as thermal generators increase production. The country started importing LNG in 2016, with volumes rising steadily; imports reached 2.06 million metric tons in 2024 during the last El Niño. Additionally, two new LNG projects have been approved, expected to begin operations in September, aimed at addressing a growing domestic gas deficit.
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