Colombia Says Its New Gas Terminal Opens in December. The Ship Is Not Free Until 2027

Colombia's new liquefied gas terminal is set to open in December 2026, but the floating ship responsible for regasification is not available until early 2027. The Ecopetrol-Frontera terminal at Puerto Bahía is contracted to handle 126 million cubic feet of gas per day for the first two years, increasing to 300 million cubic feet a day in the third year.

The vessel, FSRU Express, is owned by Excelerate Energy and has a seven-year charter with Sociedad Portuaria Puerto Bahía. Despite the terminal's December 2026 target, the ship's availability in Q1 2027 presents a scheduling challenge for gas availability during the dry season. Colombia has been importing liquefied natural gas since 2016, with imports rising from around 3% of supply to approximately 23%.

However, the country is facing a shortage of domestic gas reserves, with the largest offshore discovery, Sirius, not expected to start producing gas until 2030. Other projects, such as TGI's Ballena in La Guajira, face regulatory hurdles that extend their completion to late 2027. The situation is further complicated by the onset of El Niño, which has already begun early, potentially exacerbating the country's reliance on imported gas for electricity generation.