BOGOTA — The president of Colombian state oil company Ecopetrol, Ricardo Roa, said on Thursday that he is “waiting” for the approval of the United States to begin importing gas from Venezuela, sanctioned by Washington.
The company already has “a schedule” to repair the Antonio Ricaurte gas pipeline – on the Colombian-Venezuelan border – and receive from the neighboring country “between 30 and 50 million cubic feet per day” starting in 2025, Roa explained during a public event in Cartagena. (north).
However, the initiative depends on the approval of Washington, which reinstated the oil embargo against Venezuela due to questions about the presidential election on July 28.
“I hope very soon to be making announcements about a relaxation of this OFAC (Office of Foreign Assets Control) restriction so that Colombia can have some” Venezuelan gas, said the president of Ecopetrol.
According to Roa, imports are intended to cover a deficit in Colombia’s demand of around 85 million cubic feet per day starting in 2025.
The gas pipeline connecting both countries has a missing section of 1.1 kilometers and its reconstruction would cost about 40 million dollars, Roa estimated.
Last October, the United States partially lifted six-month sanctions it had imposed on Venezuelan oil and gas in 2019.
But it announced the end of that license in April following the arrest of several opponents of President Nicolás Maduro and included a section that allows for requests for specific licenses.
The Office of Foreign Assets Control (OFAC), dependent on the US Department of the Treasury, approved operations in May for the French Maurel & Prom (M&P) and other multinationals such as Halliburton, Schlumberger Limited, Baker Hughes Holdings LLC and Weatherford International.
The Spanish oil company Repsol has also received said license, according to Venezuela.
Roa said he would not seek to import gas from Venezuela without OFAC approval.
Colombia reestablished diplomatic relations with Venezuela in 2022, following the rise to power of leftist Gustavo Petro.
Source: With information from AP
