Mine and Energy Minister María Fernanda Suárez said that energy exploration and production through unconventional deposits (fracking) is positive for the country, but that alternatives are still available in case Colombia does not advance in terms of Regulatory.

“In terms of gas, in unconventional deposits (fracking) is where we see a broader prospectivity of resources, but we have several sources and we are working on all. We work on the issue of offshore, the ongoing process of allocating areas and the improved recovery,” she said.

On the coast, the official said the efforts are concentrated on the Caribbean Coast because the Pacific account does not yet have information on the presence of fuels. It is mentioned that it has high potential, however, it may be some depth. Which increases costs. I mean, it won’t be a cheap gas.

The minister said that in the ongoing process of allocating areas some that have gas can be found and stressed that with the improved recovery what is sought is that more gas is extracted in areas where there is already presence of the fuel.

Suarez added that, due to the increase in gas demand in the country, the construction of the Pacific regasifier is necessary.

“With the reserves and projections, between 2021 and 2022 imported gas is required to replace domestic demand. To this extent, the Pacific regasification plant is required. We expect the sheets to come out in the last quarter of 2019,” he explained.

However, it should not be forgotten that we are already importing gas from the Cartagena regasification plant, and it may be one of the reasons why the cost of gas on the coast was increasing.

Months ago, the director of the Energy Mining Planning Unit (Upme),Ricardo Ramírez, had said that the award of the regasifier should be ready in the first quarter of 2020.

After Ecopetrol reported that she is going to start fracking in the United States, the minister said regulatory delays in Colombia can cause investment to go to other countries.

“Investors are always looking for the best place to invest. Sometimes when we have delays or paperwork we forget that we are competing for capital here and in the rest of the world,” she concluded.

The Government is waiting for a failure of the State Council to give free rein to the development of fracking pilots recommended by the Committee of Experts a couple of months ago.

It is important to know that the resolution can come out in both senses: for or against. Not for nothing, the practice of fracking has been banned in some countries.

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