- Colombian President Gustavo Petro orders an investigation into gas suppliers over alleged price speculation after a 36% price hike.
- Qatar gas import deal announced through Ecopetrol to stabilise local gas prices and offer competitive rates for consumers.
- Energy sector concerns arise over Colombia’s increased reliance on gas imports after halting new oil and gas exploration contracts in 2024.
Colombian President Gustavo Petro has ordered an investigation into local gas suppliers after gas prices jumped by up to 36%. Petro accuses distributors of manipulating prices by aligning them with higher imported gas costs, which disrupts the domestic market. The investigation will focus on potential price speculation by gas companies.
Cities across Colombia, including Bogotá, experienced sharp price hikes that hit domestic and industrial consumers. The government responded by launching a probe to assess the actions of gas suppliers. Petro has accused some companies of inflating imported gas prices, calling the practice “theft.”
Petro announced a new gas import deal with Qatar through the state-owned oil company Ecopetrol to address the issue. Colombia will, for the first time, import gas from Qatar. Until now, the country primarily sourced gas imports from the United States, Trinidad, and Tobago. This agreement aims to secure more competitive prices for Colombian consumers.
Petro believes the Qatar deal will ease tensions between gas suppliers and the government. These tensions have built up for months due to disagreements over pricing. Although Petro did not specify the savings expected from the deal, he stressed that lowering consumer prices remains the primary goal.
Along with the investigation, Petro issued a warning to gas companies. He threatened to exclude companies refusing to cooperate with the inquiry from Colombia’s gas market. While he did not name specific suppliers, his accusations suggest authorities will take serious action against price manipulation.
Colombia’s energy sector has faced mounting challenges since the government halted new oil and gas exploration contracts in 2024. This decision aligns with Petro’s broader plan to shift the country toward renewable energy, but it has sparked debates. Many experts argue that stopping new exploration will increase Colombia’s reliance on gas imports and could lead to future shortages.
The import deal with Qatar aims to stabilise prices, but it also raises concerns about Colombia’s long-term energy security. Analysts warn that greater reliance on imports may make the country vulnerable to international price fluctuations, significantly if domestic gas production slows due to the ban on new exploration.
While Petro’s administration pushes for renewable energy development, the focus remains on stabilising consumer gas prices. The investigation into price manipulation and the Qatar import deal both seek to ease the public’s burden of rising costs.
As Colombia moves forward with its energy transition, questions remain about how the country will balance its energy needs with the goal of a greener future. The Qatar deal represents a key step, but its long-term effects on Colombia’s energy stability remain unclear.