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The U.S. EIA natural gas storage figures for the week ending August 14 will be released in ten minutes.According to Irans Tasnim News Agency, Houthi rebels used attack drones to strike Najran Airport and Saudi Aramco oil facilities.On August 20, Houthi spokesman Yahya Sarri stated, "The Yemeni armed forces successfully conducted two military operations using two drones. The first operation targeted sensitive Saudi targets at Najran airport, and the second targeted Saudi Aramco facilities in Najran. Both operations successfully achieved their objectives. This operation was a response to Saudi drones violating the airspace of Saada province. The armed forces will continue to defend Yemeni sovereignty, resist any aggression, and resolutely implement this strategic policy."According to Israeli reports, the Israeli Air Force has completed the relocation of a helicopter squadron from Ramon Air Base in the south to David Air Base in Ramat in the north. The IDF stated that this move is to better defend the northern border and to learn from the lessons of the October 7, 2023 attack.Justyna Zabinska-La Monica, senior manager of the Conference Boards Business Cycle Indicators, stated that the economy should continue to expand, but growth is expected to be primarily driven by corporate investment in the artificial intelligence sector, while rising living costs may reduce consumer spending, particularly among low- and middle-income households. The Conference Board continues to forecast U.S. real GDP growth of 1.9% for both 2026 and 2027.

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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