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On September 6th, it was announced that the Ministry of Finance will soon issue 300 billion yuan in special treasury bonds to support eight central financial enterprises in replenishing their core tier-one capital. On the same day, the Industrial and Commercial Bank of China, Agricultural Bank of China, Export-Import Bank of China, China Export & Credit Insurance Corporation, PICC, China Life Insurance Company, China Taiping Insurance, and China Reinsurance Corporation announced their respective capital increase plans. Industry insiders stated that the Ministry of Finances capital increase for these eight central financial enterprises is a forward-looking arrangement, a proactive measure to support the high-quality development of central financial enterprises and contribute to the steady and sustainable development of the macroeconomy.On September 6, Iranian Armed Forces Chief of Staff Abdollah Abdullah stated that Iran will not surrender to the United States, and that the USs efforts to pressure Iran through "soft power warfare," cognitive warfare, and economic warfare have failed to force Iran to change its stance. Abdullah claimed that the US misjudged Irans potential surrender before taking military action, but this assumption "will not come true." He stated that the US is currently attempting to compensate for its strategic failures in the military field through "soft power warfare," cognitive warfare, and economic pressure, but these measures are also unsuccessful. Abdullah also stated that Iran "has demonstrated a new model of resistance to the world."Lebanese President: Despite the attacks, we remain firmly committed to upholding Lebanons sovereignty and stability in the south.Lebanese President: The attack on the Ministry of Finance building shows a persistent pattern of attacks, reflecting an intent to strike state institutions.Lebanese President: Israels attacks went beyond the scope of the ceasefire agreement and the framework agreement for national institutions.

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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