Colombia’s state-owned energy company Ecopetrol is taking preliminary steps to assess the resumption of natural gas imports from Venezuela, anticipating potential easing of US sanctions, La República reported.

Ecopetrol has recently held internal discussions on the feasibility of importing Venezuelan gas, the people said, asking not to be identified because the talks are private. Any direct negotiations with Venezuela would depend on the outcome of a meeting next month between US President Donald Trump and Colombian President Gustavo Petro, one of the people said, as existing US sanctions have previously blocked such transactions.

Ecopetrol declined to comment, while Petróleos de Venezuela, known as PDVSA, and the US Treasury Department did not respond to requests for comment.

Colombia has increasingly relied on costly liquefied natural gas imports as domestic supply tightens. Energy Minister Edwin Palma said in a post on X that renewed dialogue between the US and Venezuela could open a path to cheaper gas imports. Earlier plans to revive bilateral energy trade, announced for late 2024, were stalled by sanctions on Venezuela’s oil and gas sector.

Officials from both countries have continued to push for renewed cooperation. Palma met Venezuela’s then vice-president and oil minister Delcy Rodríguez in Caracas last year, while Nicolás Maduro said in December that Venezuela would initially be willing to supply gas to Colombia at no cost.

Any agreement would require reopening the 224-kilometre Antonio Ricaurte pipeline, which previously carried Colombian gas to Venezuela before being shut for more than a decade. Restoring the pipeline would involve extensive repairs, including rebuilding an entire section on the Colombian side. Wood Mackenzie estimates rehabilitation would take between 18 and 24 months and cost amounts comparable to a near greenfield project.

Once operational, Venezuela could initially supply about 50mn cubic feet of gas per day, equivalent to roughly 1.42mn cubic metres, Palma said last year.

Colombia’s gas deficit is projected to widen to as much as 20% of total demand in 2026, up from around 4% at the end of 2024. While LNG imports currently cover the shortfall, Ecopetrol is seeking alternatives as offshore production is not expected before 2029. Wood Mackenzie estimates Colombia’s LNG import capacity will rise from 450mn cubic feet (12.74mn cubic metres) per day at the end of 2025 to about 1,300mn cubic feet (36.81mn cubic metres) per day by 2028.

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