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Market news: The Danish central bank intervened in the foreign exchange market last month, purchasing 700 million Danish kroner.U.S. Ambassador to the United Nations: U.S. President Trumps patience with Iran is running out.U.S. Ambassador to the United Nations: We call on Iran to return to dialogue and peace efforts.The UK FTSE 100 index rose 2.00% on the day. 1. EIA Natural Gas Report: As of the week ending June 26, total U.S. natural gas inventories stood at 2.922 trillion cubic feet, an increase of 87 billion cubic feet from the previous week, and a decrease of 23 billion cubic feet from the same period last year, a year-on-year decrease of 0.8%. However, it was 175 billion cubic feet higher than the 5-year average, an increase of 6.4%. 2. According to Bloomberg, since Saudi Arabia resumed tanker loading and unloading in the Persian Gulf, its crude oil exports have surged to near pre-war levels, further demonstrating that oil supplies from oil-producing countries in the region are recovering following the interim peace agreement between the U.S. and Iran. 3. Data from the U.S. Department of Agriculture shows that for the week ending June 25, U.S. net soybean export sales for the 2025/2026 marketing year were 42,000 tons, lower than the market expectation of 300,000-650,000 tons, compared to 455,000 tons the previous week; net soybean sales for the 2026/2027 marketing year were 183,000 tons, compared to 902,000 tons the previous week. 4. Nordic American Tankers: Three of its tankers have resumed international shipping operations after passing through the Strait of Hormuz, and all crew members are safe and sound. 5. Initial jobless claims in the U.S. fell slightly last week as businesses continued to avoid large-scale layoffs. The U.S. Labor Department said Thursday that initial jobless claims for the week ending June 27 were 215,000, lower than the market expectation of 220,000 and the previous weeks report of 216,000. 6. Data released by the U.S. Bureau of Labor Statistics on Thursday showed that Junes job gains fell sharply from the downwardly revised 129,000 in May, and also fell short of the 115,000 predicted by economists in a Bloomberg survey. This report marks a significant cooling in the labor market after three consecutive months of better-than-expected job growth. The unemployment rate fell slightly to 4.2% from 4.3% in May, as investors lowered their expectations for a Federal Reserve interest rate hike. 7. According to foreign media reports, a survey of 12 analysts by S&P Global Energy shows that sugar production in Brazils south-central region is expected to reach 2.21 million tons in the first half of June, a year-on-year decrease of 9.5%. Sugarcane crushing volume is expected to reach 38.35 million tons during the same period, a year-on-year decrease of 1.3%. 8. According to USDA agricultural drought monitoring data, as of June 30, 2026, the proportion of major U.S. crop-producing areas experiencing moderate to severe drought (D1+) is as follows: 19% in U.S. soybean-producing areas, down 3 percentage points from 22% last week; and up 11 percentage points from 8% in the same period last year. 9. This week, Mysteels Coal and Coke Division surveyed the profit per ton of coke at 30 independent coking plants nationwide. The national average profit per ton of coke is 47 yuan/ton; the average profit per ton of coke is 71 yuan/ton in Shanxi (quasi-first-grade), 73 yuan/ton in Shandong (quasi-first-grade), 54 yuan/ton in Inner Mongolia (metallurgical coke), and 91 yuan/ton in Hebei (quasi-first-grade coke).

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.