VIEWS: 65 PAGES: 13 CATEGORY: Energy POSTED ON: 10/20/2010
HIGHLIGHTS IN COLOMBIA Colombia is significantly investing in exploration and production and transport infrastructures, aiming at increasing its reserves and exports in the following years. The hydro and gas power generation projects seem sufficient to cover the rise of domestic demand. Latin America’s total energy production slightly fell by around 2%. Again hydrocarbons producing countries of which Venezuela and Mexico were more largely impacted. Furthermore the net exporting region Latin America experienced a cut of -4% in its trade surplus. WHAT YOU WILL FIND IN THIS REPORT The Colombia energy market report is a reliable source for understanding the key issues and dynamics shaping the Colombian energy industry. With timely, up-to-date energy industry data and demand forecasts, this report will help you identify and exploit challenges and opportunities in the Colombian energy sector. The report details the sub-sectors of the energy industry (Crude Oil, refined oil products, Natural Gas, Coal, Electricity and Renewable) in Colombia. In this report you will find: -Multi-energy approach: oil, oil products, gas & LNG, power, coal, renewable -Recent energy and climate change policy development, and an assessment of its impact -Key companies operating in each sub-segment of the Colombian energy industry, and assessment of the competitive landscape. -Up-to-date insight on market structures, regulatory developments, and asset developments -Supply & demand overview and trends, with a detailed breakdown by energy and by sector -Historical data and trends relating to production, consumption, imports, exports and reserves for each industry sub-segment -Energy projects under development in the country -Key drivers of change and future issues for each energy type MAIN REASONS TO BUY THIS REPORT -Identify key companies activities and strategy in the Colombian market -Work with data-driven market research -Follow market dynamics and future
Colombia energy report Latest update: July 2010 Table of Contents LIST OF GRAPHS & TABLES 2 INSTITUTIONS AND ENERGY POLICY 3 ENERGY COMPANIES 4 ENERGY SUPPLY 6 ENERGY PRICES 7 CONSUMPTION 7 ISSUES AND PROSPECTS 7 GRAPHS & DATA TABLES 10 Colombia Energy Report – Copyright© Enerdata – All rights reserved 1 www.enerdata.net LIST OF GRAPHS & TABLES List of Graphs Graph 1: Installed Electric Capacity by Source (2009, %) Graph 2: Power Generation by Source (2009, %) Graph 3: Consumption trends by Energy Source (Mtoe) Graph 4: Total Consumption Market Share by Energy (2009, %) Graph 5: Final Consumption Market Share by Sector (2009, %) Graph 6: Primary Consumption since 1970 List of Tables Table 1: Economic indicators Population, GDP growth Imports & exports Inflation rate, exchange rate Table 2: Supply indicators Oil & Gas proven reserves Electric & refining capacity detailed by source Production by energy source Power production by source External trade by energy Table 3: Demand indicators Consumption / inhabitant Consumption trends Total consumption by energy Final consumption by energy and by sector Electricity consumption by sector Energy security indicators Energy efficiency indicators CO2 emissions Table 4: Energy Balance Total energy balance Detailed energy balance by energy Colombia Energy Report – Copyright© Enerdata – All rights reserved 2 www.enerdata.net INSTITUTIONS AND ENERGY programme (banks and telecommunications) that also concerns the energy sector. POLICY The main strategies set out for the country in The energy sector is under the responsibility the aforementioned plan include the of the Ministry of Mines and Energy promotion of energy efficiency and energy through the UPME (Unidad de Planeación substitutions (in particular in favour of gas), Minero Energética), created in 1994. UPME the development of energy infrastructures is in charge of approving energy investments and the optimisation of the contribution of through the CONPES (Council of Economic energy exports to the country’s economic and Social Policy), in which all major development. ministries are represented, and is responsible for the planning of the sector. As regards hydrocarbons, the State owns the country’s reserves. A public agency, Ecocarbon, was created in 1993 to manage the development of coal Electricity resources and to promote coal projects Since the adoption in 1994 of a new (power plants). Electricity Law, private companies have been allowed to produce and distribute electricity. The former nuclear energy agency was The law, enacted in a context of electricity transformed and is now in charge of energy shortages, was aimed at improving the efficiency and new energies (INEA). sector’s productivity by enhancing private production for new power plants and The Energy and Gas Regulatory management contracts for existing units. Commission (CREG) was created following the adoption of the electricity law in order to Gas define the legal and institutional framework. In 1993 a plan was adopted for the The CREG split the market into four activities: development of the gas sector («Plan de generation, transmission, distribution and Masificación del Gas»). Over a period of 12 marketing, and set up rules to support years, and at a cost of $4.4bn, it made it competition. The CREG also set up a tariff possible to connect several million dwellings policy and created two categories of users, to the network, and to construct an important according to whether they are regulated or transport infrastructure. Today the network not. connects the Atlantic coast fields to the country’s main cities. Moreover, gas prices A National Hydrocarbons Agency (ANH) could soon be liberalised. This would was created in 2003 to manage the country’s encourage investments by foreign producers oil resources; it is attached to the Ministry of who currently criticise the lack of profitability Mines and Energy. In 2004 the ANH launched caused by the low gas tariffs. new exploration contracts that were more advantageous for companies interested in Oil carrying out exploration activities. In 1999 the State implemented a new legislation on exploration-production Since the adoption in July 1991 of a new activities with the objective of attracting constitution, Colombia has officially operated foreign investors to the Colombian market. under a mixed economy system, and has The said law authorises private companies to liberalised foreign investments. The sign exploration-production contracts with Government has started a privatisation the national company, allowing them to acquire a maximum stake of 70%, and to Colombia Energy Report – Copyright© Enerdata – All rights reserved 3 www.enerdata.net extend the contracts to 28 years. Moreover, gasoline was around 6.9%; it should reach 2002 saw the approval of a law that provides 10% in 2011. for the adjustment of oil royalties to the As of 2012, all new gasoline vehicles should production level of the fields: between 8% for be flex-fuel vehicles. a production under 5,000 bl/d and 25% for a production over 600,000 bl/d (until then a fixed rate of 20% was applied). Those ENERGY COMPANIES measures are necessary in view of the fact that the country’s reserves have been Electricity declining since 1997 and could, in the long Since the liberalisation of the sector, term, be too low to meet domestic electricity has been produced, transported consumption. and distributed by many different companies. There are 45 players on the electricity Oil production (as well as coal production) is production market. Three companies hold a regular target for guerrilla attacks, which is around half of the installed capacity: why in July 1992 the Government introduced Empresas Públicas de Medellín (EEPM, a “war tax" to finance the protection of those public status, with 2600 MW), EMGESA areas ($1 per barrel for light crude, $0.55 for (private status, 2100 MW) and Isagen heavy crude and US15 cents/t for coal). The (public, 2300 MW). The other large producers tax does not affect the fields brought into are: Corelca (public, 1390 MW of thermal production after 1995.
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