The President of Ecopetrol assured that importing gas would increase the Colombian bill by five times its cost

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Invoices that today cost 32,000 pesos on average could cost 150,000 pesos, warned Felipe Bayón

President of Ecopetrol assured that importing gas would increase the Colombian bill five times its cost

Felipe Bayón, president of Ecopetrol.

Ecopetrol's president, Felipe Bayón, issued a harsh warning about gas imports this Wednesday in his speech at the XIX Congress of the Colombian Chamber of Infrastructure (CCI). In this, he warned that importing this product and stopping production would cause the cost of the invoice for this fuel to increase up to five times the value, which is not convenient.

Bayón indicated that currently in Colombia the average bill for someone who consumes gas is 32,000 pesos, but this could reach 150,000 pesos in the event to import it, which 80% of the country's citizens would feel.

“Many of us would say there is no problem, but there are a lot of people who use energy. It is used by 80% of Colombians and that is why it is essential that we have energy sources in Colombia,” warned the president of Ecopetrol, noting that the war between Russia and Ukraine created opportunities for the country to exploit fuels more.

Regarding the latter, he emphasized that 60% of exploration opportunities are seen in gas, in energy sovereignty, mainly due to the war in Europe.

So it is. He noted that “part of the advice developed and that gained more and more strength, is not only thinking about energy security, but also about energy sovereignty and, to the extent possible, depending in a country like ours, on our own energy sources, in terms of electricity, fuel or gas”.

Contracts for the exploitation and exploration of hydrocarbons

It should be remembered that theThe government of Gustavo Petro reported after taking office that no new contracts for the exploitation and exploration of hydrocarbons would be signed, but everything indicates that this consideration will be reversed, which will reaffirm that the Agreements already agreed upon will be maintained and respected as they are.

The data maintained to date by the national government, specifically the Ministry of Mines and Energy, estimates that they currently have 330 contracts , of which 117 are destined for exploration, 147 for exploitation, and 58 are subject to suspension. These include oil and gas.

Although not a final decision, it was reported that the government sat down to reconsider this decision, which It implies that new oil areas can be awarded again.

Sufficient gas for the energy transition

During the closing of the V Oil, Gas and Energy Summit, which took place in Bogotá last week, Bayón announced that in the country there is more than enough gas for the energy transition and emphasized that it is Colombian gas and that it is protected by the tax reform approved a few days ago in Congress.

“We have gas. There is gas, Colombian gas, for us to develop and even protected by the tax reform,” said Bayón, adding that “gas is the backbone of the energy transition and we have it in Colombia. Guaranteeing access to energy is the best way to close the social gaps in our country.”

For the president of the state oil company, in addition to existing reserves, thanks to wells such as Gooseberry and Gorgon, discovered this year, “each one is bigger than Cusiana and Cupiagua”, the two wells that produce most of the gas that Colombia consumes. Likewise, Bayón also highlighted that currently the Tayrona Block has a gas potential between 3.4 and 5.5 teras, which is added to the total potential of the Caribbean region, which is between the 70-100 teras.

“Both Gooseberry and Gorgon, whether one looks at them independently or individually, each is a world-class discovery, each is larger than Cusiana or Cupiagua and they can be put into production before the end of this decade”

Bayón affirmed, then, that the challenge is to bring these resources to the surface, since they represent 25 times what is currently in the reserves, reiterating that hydrocarbons are essential for maintain energy sovereignty in Colombia.

“Hydrocarbons are essential to maintain our energy sovereignty. In the third quarter of the year, we produced 720 thousand barrels, of which 24% corresponds to gas, the resource that promotes the path towards the transition.”

The president of Ecopetrol also warned that since the state oil company expected to develop projects for the exploitation of gas fields in the Caribbean region before 2030, for which reason negotiations are under way with the Turkish National Company.

He also noted that thanks to the approval of the tax reform the gas fields retained their differential tax treatment.