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The cross-border pipeline terminates in Ballena, Colombia (Image: PdVSA)
“There is gas potential in Colombia,” he told still maintains a sanctions regime that seeks to
Reuters in an interview. “That would be enough restrict investment in Venezuela’s oil and gas
for Colombia and possibly for exports before sector. However, Bayon and other Colombian
decade’s end.” oil executives believe no overtures to Caracas
The Ecopetrol CEO also said he believed are necessary, as there at least three offshore gas
Colombia should focus on other issues in energy prospects that could help increase Colombia’s
relations with its neighbour. The need for a own proven reserves by over 70% within the
power interconnection with Venezuela is more next few years.
pressing, he said, and the two countries ought to Ecopetrol has justified this stance by pointing
widen the regional transmission network. to its own venture with Brazil’s Petrobras, which
As of press time, Caracas and Bogota were discovered the deepwater Uchuva gas field last
not holding any official discussions on resuming year. The partners have predicted that first gas
Venezuelan gas flows to the Colombian market. could come in 2026 if the site is connected to
Last August, though, Grupo Energia Bogota nearby infrastructure. Additionally, Ecopetrol
(GEB), one of Colombia’s largest electricity and Shell (UK) found gas at the ultra-deepwater
providers, revealed that Ecopetrol’s Venezuelan Gorgon site last year, with first gas expected in
counterpart PdVSA had suggested re-opening 2028-2029.
the 16-year-old pipeline, which has a maximum In the meantime, Ecopetrol and Occiden-
capacity of 5bn cubic metres per year. tal Petroleum (US) are slated to drill their
The cross-border link, also known as the first exploration well at a deepwater site near
Trans-Caribbean/Antonio Ricaurte pipeline, the maritime border with Venezuela in 2025.
was originally financed and built by PdVSA According to Bayon, the NOC hopes that these
to pump Colombian gas to Venezuela. The projects will help compensate for the lack of
conduit would have to be repaired before use. development of domestic shale gas reserves,
It has remained idle since 2015, when PdVSA presuming that Colombian legislators move
announced that it would not renew its supply forward with a proposed fracking ban.
contract for Colombian gas. The CEO also said Ecopetrol had high hopes
The resumption of gas shipments could be for its oil and gas ventures in the US and Brazil.
a sign that Colombian President Gustavo Petro Moreover, he told Reuters that a technical team
is seeking closer political ties with his Vene- was evaluating possible participation in Guy-
zuelan counterpart Nicolas Maduro. It might ana’s current bidding round, which will remain
also stir controversy, as the US government open up to the end of April. ™

Petrobras CEO meets Colombian energy

minister to discuss bilateral co-operation

BRAZIL’S national oil company (NOC) Petro- co-operation in the energy sphere.
bras reported on March 9 that its CEO, Jean Paul According to a statement from Petrobras,
Prates, had met with Colombian Minister of Prates and Vélez spoke on a wide range of topics,
Mines and Energy Irene Vélez Torres during the including both hydrocarbon development and
CERAWeek conference in Houston to discuss renewable energy.

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