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July 3 – On July 1, Premier Li Qiang, Secretary of the Leading Party Group of the State Council, chaired a meeting of the Leading Party Group of the State Council to study and implement the spirit of General Secretary Xi Jinpings important speech at the ceremony celebrating the 105th anniversary of the founding of the Communist Party of China and Xi Jinpings thought on Party building. The meeting emphasized the need to strive for new achievements in high-quality development, strengthen initiative and a sense of urgency, and take more forceful measures and actions in building a modern industrial system, accelerating high-level scientific and technological self-reliance, building a strong domestic market, and deepening reform and opening up. It stressed the importance of being pragmatic, responsible, and dedicated to making greater contributions to building a strong nation and achieving national rejuvenation.Indias Trade Minister: Merchandise exports grew by about 15% and service exports grew by about 11% from April to June.The Reserve Bank of India reported that as of June 26, Indias gold reserves stood at $102.54 billion, compared with $107.93 billion the previous week.On July 3, the China Securities Regulatory Commission (CSRC) released a draft for public comment on improving rules for listed companies refinancing. The draft proposes a unified market-based pricing mechanism, requiring all listed companies to determine the offering price based on the first day of the offering period, thus promoting market-based pricing. It also improves lock-up period arrangements to better protect small and medium-sized investors.Market news: The EU says the supplementary objection statement contains new evidence.

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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