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July 27 – According to The Hill, U.S. Senator Bill Cassidy said on Sunday that it “seems unlikely” for Trump to end the war with Iran quickly, and suggested that Trump seek a path to peace from Congress. Cassidy stated, “I do think we need a more comprehensive national discussion about how to move forward. If the president can end this conflict quickly—which seems unlikely, but they still seem to be assuring us that it can be done. Well, that’s fine too.” Cassidy has consistently criticized Trump’s handling of the war, particularly its impact on the cost of living. In May, after failing to retain his Senate seat, Cassidy became one of four Republican senators supporting a war powers resolution that calls for Trump to withdraw U.S. troops deployed in Iran.July 27th - Economists predict that the Bank of England will take a hawkish stance at its meeting this week, but will keep interest rates unchanged, amid renewed Middle East conflict and soaring energy prices. Since the Monetary Policy Committees last meeting in June, the breakdown of the US-Iran ceasefire agreement has pushed global oil prices back to around $100 per barrel, and European natural gas prices have surged to their highest level since the beginning of the conflict. Oil prices could rise further if shipping routes in the Gulf region continue to be disrupted. The UK economy performed better than the Monetary Policy Committees expectations at the beginning of the conflict, with GDP growing by 0.7% in the three months to May. Currently, there are few signs that the energy shock will trigger more persistent price pressures. The CPI has been below expectations for three consecutive months, falling to 2.6% in June. Wage growth, a major source of inflationary pressure, has slowed, and food price increases have also declined. Economists say this will allow the Monetary Policy Committee to keep interest rates at 3.75% at Thursdays meeting, while signaling that the committee is prepared to tighten policy if energy prices rise sharply further, or if a one-off price shock begins to evolve into a more persistent problem.Indonesian Cabinet Secretary: Calls on market participants to remain calm during the transition led by the Central Bank of Indonesia.Japans leading economic indicators rose 0.4% month-on-month in May, down from 0.7% in the previous month.Japans May coincident indicator final reading was 117.9, compared to 118.5 in the previous month.

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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