IAHL Corporation (IAHL)

[energybuyer]

This highlights Colombia’s key problem when domestic consumption of natural gas keeps growing. According to Canacol Energy, Colombia’s largest independent natural gas producer, demand for the fossil fuel is expanding at 3% annually. This demand growth will increase as the central government introduces measures which will see natural gas become the transitional fuel of choice as it focuses on meeting its Paris Agreement emission targets. Colombia’s government is focused on reducing air pollution which has become a major problem in many major Colombian cities, notably Medellin and Bogota. The government seeks to replace coal and petroleum fired electricity with the fossil fuel. Natural gas has become an important source of power generation, particularly on the Caribbean coast. Rising electricity consumption combined with low hydro reservoirs is amplifying demand for natural gas fired electricity in Colombia. These factors will cause natural gas demand to keep rising