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On August 21, Iranian Foreign Minister Araqchi posted on social media that the sanctions and pressure policies imposed on Iran by successive US administrations "have all ended in failure," and the latest economic pressure measures announced by the US are also "doomed to failure." Araqchi reviewed a series of US policies against Iran in recent years—14 years ago, the US declared the imposition of the "toughest sanctions in history," 8 years ago it implemented "maximum pressure," and 5 months ago it demanded Irans "unconditional surrender"—all of which ultimately failed. Regarding US President Trumps recent announcement of "the most destructive economic action in history" against Iran, Araqchi stated that this action is also "doomed to failure." He also criticized the lack of substantial change in the US policy towards Iran by successive administrations. Araqchi wrote: "Weve seen this drama before; the same nonsense, just with a different group of bullies."August 21st - According to the Globe and Mail, sources revealed that a potential trade agreement being negotiated between Canada and the United States would introduce a tariff quota system for Canadian steel exports. Exports within the quota would be subject to a 25% tariff, while exports exceeding the quota would be subject to a 50% tariff. According to a steel industry executive, Canada has agreed to a tariff quota system for steel, allowing 4 million tons of steel annually to be shipped to the United States at the lower 25% tariff rate. Exports exceeding this 4 million tons will still face a 50% tariff. Two other industry sources confirmed that Ottawa and Washington have agreed to a 25% tariff within the quota. Canada has agreed to eliminate all reciprocal tariffs on U.S. steel and further restrict steel imports from third countries. In addition, Canada is also negotiating aluminum trade terms with the goal of reducing tariffs.The German DAX 30 index closed up 136.45 points, or 0.52%, at 26,148.00 on Friday, August 21; the UK FTSE 100 index closed up 71.22 points, or 0.66%, at 10,819.38 on Friday, August 21; and the French CAC 40 index closed up 31.34 points, or 0.37%, at 8,484.43 on Friday, August 21; the Euro... The Stoxx 50 index closed up 44.59 points, or 0.69%, at 6466.65 on Friday, August 21; the Spanish IBEX 35 index closed up 144.52 points, or 0.73%, at 19962.52 on Friday, August 21; and the Italian FTSE MIB index closed up 39.18 points, or 0.07%, at 52705.00 on Friday, August 21.On August 21, Iranian Navy Commander Shahram Ilani stated that the area east of the Strait of Hormuz and the Gulf of Oman—a crucial waterway connecting the Strait of Hormuz and the Persian Gulf—is currently under Irans "complete control," and that Iran is "monitoring all movements of hostile forces outside the region around the clock." He added that the Iranian armed forces, under the leadership of the Supreme Leader, remain on high alert and "will soon deliver a major, historic, and unforgettable lesson to the enemy at sea."Iranian Foreign Minister Araqchi responded to the "most destructive economic operation in history," saying that this reenactment is also doomed to failure.

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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