Colombia is increasingly relying on liquefied natural gas (LNG) imports as domestic production continues to decline. The country's average annual marketed natural gas production dropped from 1,070 million cubic feet per day (MMcf/d) in 2022 to 772 MMcf/d in 2025, with further declines to 673 MMcf/d between January and August 2026. Key production fields like Cusiana, Cupiagua, Pauto Sur, and the offshore Guajira fields have been in decline since 2022, with no significant new discoveries to offset the losses. Proved reserves fell 39% to 1.7 trillion cubic feet between 2022 and 2025, according to the National Hydrocarbons Agency.
As domestic production has waned, LNG imports have surged, accounting for a record 31% of Colombia’s monthly natural gas supply in July 2026. The country currently has only one operating LNG import terminal, SPEC LNG, near Cartagena, but expansions and new projects like the Buenaventura LNG terminal are underway to increase capacity. The Puerto Bahia LNG Terminal and Ballenas LNG Terminal could also start operations next year.
The anticipated strong El Niño weather pattern is expected to exacerbate the situation. The National Oceanic and Atmospheric Administration (NOAA) reported an 83% chance of a strong to very-strong El Niño event through the first quarter of 2027, which typically brings drier-than-normal weather to northern South America. This could reduce hydropower availability, increasing the demand for natural gas-fired electricity generation. In 2025, hydropower supplied 81% of Colombia’s electricity, but this share fell to 66% in July 2026, with natural gas and coal each accounting for 12%. If the El Niño persists, natural gas is likely to play a larger role in electricity generation.