Energy and oilUpdated Yesterday

Ecopetrol is negotiating a 10-year Venezuelan gas deal.

Colombia’s gas squeeze is near-term, and Ecopetrol is trying to address it by tapping associated gas and pursuing liquefied natural gas and Venezuelan supplies. At the same time, the state oil company is negotiating a 10-year agreement to buy natural gas from Venezuela, while exploring opportunities to expand there. The contrast is striking: an immediate shortage sits alongside talks about a decade-long supply deal. Those talks are still underway, and longer-term solutions to Colombia’s tight gas market remain uncertain.

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