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Colombian Natural Gas Crisis
Apr 27, 2018

Since the end of 2014, oil prices have continued to plummet, and there have been very few investments that have played an important role in the economy. As a result, oil production in Colombia declined sharply. The currency weakened severely and economic growth stagnated. Both oil and gas reserves and production are declining, and the economic outlook of the Andean countries is threatened. Colombia's natural gas resources could have been self-sufficient, but by the end of 2017, there was a serious shortage of natural gas in the country and it was only possible to import liquefied natural gas (LNG) from abroad regularly.


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