The intensity of the drought that the country is experiencing, as a result of the lower degree expected for the La Niña phenomenon (rain), led to Ecopetrol to suspend the supply of natural gas to a group of distribution companies, in order to use it for generating electricity with thermal plants.
The temporary restriction situation compromises the supply for vehicle use and affects companies that signed conditional firmness contracts (CFC) with Ecopetrol, that is, interruptible, as long as there is no shortage contingency such as the one the country is currently facing due to the prolonged lack of rain.
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The company explained that the situation, which impacts the clients of 13 distribution companies, including Alcanos, Efigas, Gases del Caribe and Terpel, does not affect the companies that signed gas purchase option contracts (OCG), which are those that have insurance or special protection, in case of shortage situations such as the one the country is facing.
In concrete figures, before the contingency that materialized in the last few hours, Ecopetrol was supplying 46.6 million cubic feet per day to 13 companies with unsecured CFC contracts, and had committed to 32.1 million cubic feet per day to comply with the secured OCG contracts, in the face of a gas shortage.
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According to Portafolio, although the companies that chose to support this supply with an interruptible contract instead of one with a purchase option, while they manage to agree on the supply with another producer, This Friday, Ecopetrol will exceptionally assign them 3.4 million cubic feet per day.
These 13 companies that signed conditional contracts told Ecopetrol that they need 6.2 million cubic feet per day, which means that the rest must seek the additional energy they need in the market to meet demand.
Complex situation
Ecopetrol stated that this is a mandatory measure, as established by CREG Resolution 186 of 2020, which regulates the supply of natural gas to the wholesale market in Colombia.
The company also said that it had decided to reduce gas consumption in its operations in order to give priority to gas supply in the regions, in compliance with the regulations applicable in these conditions and based on the terms of the contracts signed with its shippers.
The condition of “probable shortage” that has been occurring in recent days in Colombia occurs when the stock market price is equal to or greater than 95% of the shortage price.
“Ecopetrol will continue to continuously monitor the situation in its commitment to guarantee the supply of fuels for national demand, according to its capabilities.
