Colombia’s Ecopetrol Is in Talks With Traders to Buy LNG

(Bloomberg) -- Colombia’s authorities vigor institution Ecopetrol SA is successful talks with suppliers of liquefied earthy state arsenic the nation’s home state accumulation dwindles, according to radical acquainted with the matter.

Officials are peculiarly funny successful LNG from the US, said the people, who asked not to beryllium identified due to the fact that the accusation is confidential. It comes arsenic Colombia explores gathering its 2nd LNG import terminal to caput disconnected a state shortage forecast to deed wrong the adjacent 2 years. 

Ecopetrol did not instantly respond to a petition for comment. 

While the Latin American state makes up a tiny fraction of planetary LNG imports, its proximity to the US — the largest LNG exporter — gives Colombia an vantage to question proviso and provides an borderline for traders looking for a caller marketplace to merchantability excess cargoes. The situation volition beryllium uncovering an capable floating LNG vas during a clip erstwhile Europe has rapidly snapped up vessels to regenerate its Russian state with LNG successful the aftermath of the 2022 Ukraine invasion. 

Ecopetrol is mulling implicit options from astatine slightest 10 companies to make an autarkic terminal. The deadline to person offers is aboriginal July. The state-owned institution is considering arsenic overmuch arsenic 0.6 cardinal metric tons (about 8 LNG cargoes a year), for a play betwixt 3 and 7 years, the radical said. 

Timing of the supply, arsenic good arsenic the location, would beryllium connected archetypal processing the terminal. Possible sites are connected the Caribbean seashore oregon the Pacific broadside of the country, 1 idiosyncratic said. 

A abstracted LNG import task connected the Pacific seashore of Colombia has agelong been considered for improvement but has failed to beforehand owed to deficiency of commercialized interest.

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