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On July 1st, the "Implementation Plan of Guangzhou Municipality for Strengthening and Optimizing the Tax Refund Policy for Outbound Tourists" was released for public comment. The plan includes increasing the coverage of tax refund shops. It encourages more qualified shops to register as tax refund shops, continuously optimizing spatial layout. Building on full coverage in all 11 districts, it will continue to promote the addition of tax refund shops in various key inbound consumption venues, focusing on expanding to key commercial districts, scenic spots, markets, and ports with high concentrations of overseas tourists, as well as shops with distinctive local characteristics, high-quality brands, time-honored enterprises, tourist attraction shops, souvenir shops in cultural and museum sites, shopping shops in theme parks, and shops around international sports stadiums. A one-time reward will be given based on tiers for shops that issue 50 or more single applications for tax refunds or "instant refund" within each six-month period.Li Auto delivered 30,895 vehicles in June.July 1st - The 62-day national railway summer transport season started today (July 1st) and will end on August 31st. During the summer transport season, the national railway is expected to transport 1.01 billion passengers, with an average daily passenger volume of 16.29 million.July 1st - Marcel Thieliant, Head of Asia Pacific at Capital Economics, stated that the Bank of Japans Tankan survey released earlier reinforced its case for a rapid interest rate hike. He pointed out that the overall index measuring the business sentiment of large manufacturers jumped to +22, the highest level since the global financial crisis. "The business sentiment of large non-manufacturing companies was already at its highest level since the early 1990s in the first quarter, but still rose slightly further to +37 from +36," he added. Furthermore, businesses inflation expectations for the next five years climbed to 2.6% from 2.5%, a figure that "supports the views of those within the Bank of Japan who have warned of upside risks to inflation."Crude oil futures contract 2608 weakened during the session, with the decline widening to 2.01%, and last quoted at 452.8 yuan/barrel; the trading volume was approximately 21.662 billion yuan, with an increase of nearly 1,300 lots in open interest during the day, and the market volatility increased.

In Colombia, natural gas consumption has outpaced production

Charlie Brooks

Jun 28, 2022 11:31


According to our most recent Colombia Country Analysis Brief, Colombia imported 14,2 billion cubic feet (Bcf) of natural gas to help meet its natural gas demand for electricity in 2020, when a drop in hydroelectric power was caused by drought.


In 2020, hydroelectricity will contribute to around 65% of Colombia's electrical generation, down from nearly 80% in earlier years. Since hydropower is Colombia's principal energy source, droughts may have a significant effect on the country's electrical producing mix.


The bulk of natural gas used in Colombia is produced domestically and employed to create electricity. In recent years, imports have progressively bridged the gap between domestic natural gas production and domestic demand. In 2020, Colombia produced 399 Bcf of dry natural gas, while domestic consumption was 413 Bcf.


Concerns over the reliability of the nation's electricity supply prompted the Colombian government to approve the Sociedad Portuaria El Cayao (SPEC) LNG import plant in November 2014. The facility started operations in November 2016. The administration has since proposed the Pacific Regasification LNG terminal as the nation's second LNG import plant.


EPM is currently developing the new hydroelectric dam project Ituango. The first of eight 300-megawatt generating units will commence operating in the second part of 2022. The whole project will have a capacity of 2.4 gigawatts when it is finished in 2025. If completed, the Ituango project would be the largest hydroelectric power plant in Colombia in terms of generating capacity. In 2020, the installed electrical production capacity of Colombia was 17 gigawatts.

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