Belgian shipping group Exmar signed a five-year contract to deploy a floating storage unit for Colombia's LNG import infrastructure on the Pacific coast, as the country addresses mounting natural gas supply concerns, according to company statements.

The agreement with Regasificadora Del Pacífico covers deployment in Buenaventura's inner bay under Ecopetrol's February contract to provide regasification services for 60 MMCFD of gas capacity. The innovative logistics solution involves loading LNG from carriers onto the floating unit, transferring it to isotainers for barge transport to Buenaventura port, then trucking to a regasification facility in Buga for injection into Colombia's national transport system.

Colombia imported record LNG volumes exceeding 2mn tonnes in 2024, with nearly 60% originating from US suppliers as domestic production constraints intensified. Monthly imports reached 300,000 tonnes in April before declining to 175,000 tonnes by September, reflecting seasonal demand variations and supply chain adjustments.

The Pacific coast project addresses strategic vulnerabilities as Colombia's existing SPEC LNG terminal in Cartagena operates at capacity constraints. SPEC's current throughput approximates 475 mcf daily, with potential expansion to 533 mcf by 2027, insufficient to meet projected demand growth driven by declining domestic reserves.

President Gustavo Petro's 2023 fossil fuel exploration ban has accelerated the supply-demand imbalance, prompting Ecopetrol to pursue multiple import solutions. Recent offshore discoveries, including the Sirius field with estimated reserves exceeding 6 trillion cubic feet, remain years from commercial production.

Exmar CEO Carl-Antoine Saverys highlighted the partnership with RDP's experienced development teams, whilst RDP President Oscar Isaza noted endorsement from over 60 community and institutional leaders across Buenaventura and Buga municipalities.

The project's final investment decision awaits completion in Q4 2025, subject to regulatory approvals and financing arrangements. Colombia's energy security challenges have intensified investor focus on import infrastructure as the country transitions from net gas exporter to import dependency within a decade.

Exmar operates extensive LNG infrastructure globally, including the Eemshaven terminal in Netherlands since September 15, 2023.

© 2025 bne IntelliNews, source Magazine