Venezuela-Colombia Gas Pipeline Awaits $66M Repair
A crucial gas pipeline connecting Venezuela and Colombia has been idle since 2015, and experts believe it's time to repair and reopen it. Luz Stella Murgas, head of Colombia's gas association Naturgas, emphasized that the infrastructure is in 'not optimal conditions' and must be restored as soon as possible.
The pipeline will require a minimum investment of $66 million before exports to Colombia can begin. This project has been pending a license from the US Treasury Department, which has held up progress for years.
Sandra Conde, transport and gas director at the Development Bank of Latin America and the Caribbean (CAF), believes that restoring the pipeline is crucial to help Colombia reduce its natural gas deficit. She also thinks that Venezuela can 'monetize' this project by solving its neighboring country's gas supply problem.