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On August 20th, Canadian Prime Minister Mark Carney is pushing to end some of Canadas ban on the retail sale of U.S. alcohol, hoping to push for a finalized U.S.-Canada trade agreement. Nova Scotia Premier Tim Houston stated that Carney, during a conference call with provincial premiers on Wednesday, urged them to reinstate the sale of U.S. wine and spirits in their local stores once the agreement is finalized. In Canada, provincial governments are responsible for setting rules for the sale and distribution of alcoholic beverages. Last year, in retaliation for tariffs imposed by the Trump administration, most Canadian provinces removed U.S. alcoholic products from their shelves, leading to a significant decline in export sales for U.S. wine and spirits producers. Currently, most provinces maintain their bans on the sale of U.S. alcoholic beverages, including Canadas three most populous provinces—Ontario, Quebec, and British Columbia. It remains unclear whether the provincial premiers will agree to Carneys request. If they refuse, the preliminary U.S.-Canada trade agreement announced by Trump on Tuesday evening could be at risk. The White House considers ending these bans to be one of the core pillars of any U.S.-Canada trade agreement.According to Nikkei, Japans Ministry of Economy, Trade and Industry will seek 7.7 trillion yen in its fiscal year 2027 budget.Asian stocks are poised for a rebound following the U.S. announcement of expanded Treasury bond buybacks. U.S. stock index futures rose slightly in early Asian trading on Thursday. Most S&P 500 components rose on Wednesday, despite declines in chipmaker shares. Japanese, South Korean, and Australian stock index futures all indicate an upward opening, which should push broader Asian benchmark indices back from two consecutive days of losses. High U.S. Treasury yields have kept borrowing costs high, dragging down economic growth and posing political risks for Trump and the Republicans ahead of the November midterm elections. Investors are demanding higher returns to offset inflation risks, leading to a bond sell-off, and the market is now focused on whether the Treasurys latest move can lower bond yields. "Theres no doubt the U.S. government is very concerned about the bond market again, so theyve given it another shot in the arm," said Matt Marley, chief market strategist at Miller Tabak+. He added that unless investors interpret this as a sign of economic weakness, it could "boost risk assets in the short term."The Russian attack on Kyiv, Ukraine, has killed two people and injured six.Canadian Minister for U.S. Trade, LeBlanc: The Prime Minister had a constructive and important dialogue with the provincial premiers regarding negotiations with the U.S.

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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