Colombia Turns to LNG as Domestic Gas Runs Out

Colombia’s natural gas market is entering a period of sustained pressure as domestic production declines, new supply remains years away, and dependence on imported LNG deepens. Breakeven prices are estimated near $6 per MMBtu, well below recent regional LNG prices of $10–14 per MMBtu. Colombia’s LNG imports are sourced mainly from the United States and Trinidad and Tobago. Until new offshore supply and transmission capacity come online, Colombia’s gas market will remain structurally short and increasingly exposed to global LNG prices. While historical domestic gas costs averaged $4–5 per MMBtu, regional LNG prices remain in the $9–12 per MMBtu range, ensuring that import-linked pricing will continue to dominate the market until new domestic supply emerges.