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Pause in exploration licensing in Colombia to hit gas supply -Promigas.

A pause in licensing for oil and gas exploration locations in Colombia could strike the country's future availability of gas, potentially increasing the need for imports, the head of gas transporter Promigas, Juan Manuel Rojas said on Wednesday.

President Gustavo Petro's administration has actually not arranged brand-new bidding rounds for traditional oil and gas expedition, while pressing some business to restore at least 21 suspended contracts.

Meanwhile in the renewable sector, Colombia's oil regulator, the National Hydrocarbons Agency, in February pushed back the deadline for business to send documents to enter the nation's first-ever offshore wind auction to June 21, from an earlier deadline of Feb. 21.

The auction procedure is now expected to close in October 2025, behind the preliminary May 2025 deadline, according to the regulator's updated timeline.

Promigas transfers about 56% of Colombia's gas output and operates Colombia's only regasification plant. Rojas' comments were made during the CERAWeek conference in Houston.

State-run Ecopetrol's CEO Ricardo Roa said in a separate interview on the sidelines of CERAWeek that the country is importing approximately 30% of its gas requirements.

Colombia is weighing choices to fix a gas deficit set to increase as the demand grows, including increase purchases of liquefied natural gas (LNG), importing gas from Venezuela and linking domestic fields.

Appealing locations off the country's coast where business have actually found reserves are years from delivering first output. They are anticipated to provide Colombia with at 2.5-4 trillion cubic

(source: Reuters)