Colombia might need to up imports of natural gas in the years ahead, especially if its new president plans to end oil and gas rounds.

Columbia Production

Recently imports have been filling the gap between domestic natural gas production and domestic demand. In 2020, 399 Bcf of dry natural gas was produced in Colombia, and 413 Bcf was consumed, according to the U.S. Energy Information Administration (EIA).

Liquefied natural gas (LNG) imports make up the gap. The country’s first LNG import plant Sociedad Portuaria El Cayao (SPEC) came online in November 2016. The proposed Pacific Regasification in Buenaventura would be the country’s second LNG import facility.

Incoming President Gustavo Petro has said he would scrap new oil and gas rounds and prohibit hydraulic fracturing and offshore...