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On September 22, Foreign Ministry Spokesperson Guo Jia-kun held a regular press conference. A reporter asked about the impact of US sanctions against Iran. Guo Jia-kun stated that China has consistently opposed illegal unilateral sanctions without a basis in international law or authorization from the UN Security Council.Saudi Arabias civil defense ministry has warned of potential dangers in the Najran region.Fitch upgrades Sri Lankas rating to B- with a stable outlook.On September 22nd, Ruth Gregory of Capital Economics stated in a report that the UKs public finance data for August was disappointing, which may limit the new UK governments policy ambitions. Public sector borrowing reached £18.3 billion in August, exceeding the Office for Budget Responsibility (OBR) forecast; the main reason for this was increased government spending, rather than weak fiscal revenue. This made the actual borrowing £8.1 billion higher than the OBRs March forecast. This overspending is expected to continue, as real GDP growth slows in the fourth quarter and the government is expected to announce further cost-of-living subsidies. This supports the view that to avoid significant tax increases or a strong market backlash, the government may scale back or postpone many policy objectives when it announces the budget next month.Ukrainian President Zelenskyy: We are continuing to explore the possibility of producing these air defense systems and missiles in Ukraine, while also working with partners to advance the FREYJA anti-ballistic missile project. We expect to see the first results this year.

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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