Colombia needs to expand domestic natural gas production and/or add more LNG import capacity to avoid a potential gas supply deficit, energy experts are warning.

“Currently, Colombia is on course to run short of domestic gas this decade, with a gap between gas supply, including import capacity, and demand of 560 MMcf/d projected for 2030,” Wood Mackenzie analysts said in a recent report.

Substantial offshore gas deposits could provide a lifeline to South America’s second-most populous country, but several challenges must be overcome first, the consultancy found.

Development of the Gorgon, Uchuva and Orca discoveries would need to reach a breakeven point range of $6-7.00/Mcf to help avoid a future demand gap, researchers said. 

“This is a substantial challenge for...