Colombian President Gustavo Petro has called for diversifying natural gas imports, ordering state-owned Ecopetrol SA to explore sourcing gas from Qatar. In a post on “X” on Monday, Petro stressed that the country’s reliance on a limited number of suppliers has led to escalating prices, and he called for an end to what he described as a “monopoly” in the gas importation sector.
“Colombia is being robbed,” Petro noted on social media, instigating the need for immediate relief. He reiterated his request for the public services watchdog to investigate and take action against distributors accused of charging speculative prices. The President’s remarks come as Colombians grapple with rising costs for basic services, including natural gas, which has led to increased inflation above 5 percent in February.
Until now, Colombia has primarily imported natural gas from the United States and Trinidad and Tobago. Petro’s comments come in the wake of the global economic context, including a trade war declared by President Trump against Canada, and 25% tarrifs against Mexico for April 2nd. Petro visit last month to Doha, Qatar, underscores his government’s push to diversify trade relations and reduce dependency on the US, Colombia’s largest commercial partner.
Petro, a staunch advocate for renewable energy, has rejected the issuance of new drilling licenses in a bid to transition Colombia away from fossil fuels. This policy shift has led to the country facing natural gas shortages, forcing it to turn to costly imports to meet domestic demand.
In response to these shortages, gas distributors recently announced price hikes of up to 36% in major cities such as Bogotá and Medellín, leaving consumers grappling with even higher living costs. These price hikes have spurred political debate, with critics pointing to the exorbitant cost of liquefied natural gas (LNG) imports from the US and other regions, which are now priced two or even three times higher than locally produced gas.
The call for diversification of suppliers, particularly by sourcing gas from Qatar, comes at a time when Colombia is attempting to balance its energy needs with environmental goals. In addition to seeking alternative sources, Petro has called on Ecopetrol’s board to approve measures that would allow the company to reduce its exposure to foreign fracking practices, which he argues are destructive to the environment. Earlier this year, Petro urged Ecopetrol to divest its operations in the US, signaling his administration’s firm stance against the controversial practice.
Despite these efforts to curb fossil fuel reliance, Petro’s push for change has not been without challenges. Any decision to shift Colombia’s gas import strategy would need approval from Ecopetrol’s board of directors, making it uncertain when any such changes might take effect. Ecopetrol, while partially state-owned, operates in a competitive global market, where its ability to negotiate favorable deals with suppliers like Qatar could play a crucial role in ensuring a more sustainable energy future for the country.
Meanwhile, Petro’s proposal comes with a major new development in Colombia’s energy sector. Last month, Brazilian energy giant Petrobras completed a significant drilling operation at the Sirius-2 well, located about 31 kilometers off Colombia’s northern coast, in the GUA-OFF-0 offshore block. Petrobras, which operates the well through its Colombian subsidiary, confirmed that the test yielded promising results, with the well showing “good productivity” at a depth of 804 meters.
The Sirius-2 well, which follows the successful drilling of Sirius-1, is part of a series of offshore exploration efforts in Colombia. The well, initially named Uchuva-2, is located 77 kilometers from Santa Marta, the capital of the Magdalena department. Petrobras holds a 44.44% stake in the consortium operating the site, while Ecopetrol controls the majority share at 55.56%. The discovery has been hailed as the largest gas find in Colombia’s history, with the reserve potentially containing more than six trillion cubic feet of gas. If further exploration confirms these estimates, the Sirius-2 discovery could increase Colombia’s total gas reserves by as much as 200%.
The find is being closely monitored by both Petrobras and Ecopetrol, with plans to continue assessing the results from Sirius-1 and Sirius-2 wells in line with their contractual commitments to Colombia’s Agencia Nacional de Hidrocarburos (ANH). These discoveries have sparked renewed interest in Colombia’s offshore reserves, but they also highlight the complex balance the government must strike between encouraging investment in its energy sector and pursuing a transition toward cleaner, renewable energy.
As Petro presses forward with his agenda to realign the country’s energy future with those of close political allies, among them Venezuela’s Nicolás Maduro, it remains unclear whether his determination to reduce reliance on fossil fuels and diversify imports will yield immediate relief for consumers facing rising prices and probabilities of rationing. “Petro, what is the logic of your environmental obsession if you now propose to bring gas from the other side of the world in fuel-burning ships for more than 12,000 kilometers? Is Qatari gas less polluting than ours? Or is it simply more in line with your ideological narrative?” challenged right-wing Senator María Fernanda Cabal. “Govern wisely or get out of the way!”
The Colombian government for now is grappling with a balancing act: managing growing demand for energy while advocating for green transition goals with solar and wind, even though investment and long-term planning for a sustainable future remain in short supply.
