(Energy Analytics Institute, Piero Stewart and Ian Silverman, 31.Dec.2018) — Heard on the street and LatAmNRG briefs on Colombia’s first long-term power auction; the reach of Bolivia’s natural gas reserves; and a potentially steep decline in Venezuela’s oil production.
Colombia’s First Long-Term Power Auction Announced
(Energy Analytics Institute, Piero Stewart, Ian Silverman, 31.Dec.2018) — Colombia’s Ministry of Mines and Energy officially called the first long-term electric power auction, which will be held Feb. 26, 2019. The auction seeks to diversify, complement and boost the competitiveness of the country’s energy matrix, making it more resilient to climatic variability, contributing to the reduction of carbon dioxide emissions and guaranteeing the country’s energy security, reported online media Portafolio.
The process will award 1,183,000 megawatt-hours per year through long-term annual average energy contracts with a term of 12 years. The start date of obligations related to generation projects to be assigned will be Dec. 1, 2021.
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YPFB Says Reserves Sufficient To Fulfill Int’l Demand
(Energy Analytics Institute, Ian Silverman, 27.Dec.2018) — Proved natural gas reserves of 10.7 trillion cubic feet (Tcf) that were certified and quantified by Canadian company Sproule International Limited, will allow YPFB to renew contracts for the purchase and sale of natural gas to Brazil and Argentina and, above all, give priority to the domestic market until 2035.
With Bolivia’s proved + probable reserves, currently at 12.5 Tcf, the Argentine market will be fulfilled through 2026 with the delivery of 3.7 Tcf, while the Brazilian market will be fulfilled with 1.7 Tcf. Additionally, 3.89 Tcf will destined to the Bolivian domestic market through 2035, while the remaining 3.21 Tcf will be used for the expansion and subscription of new contracts, announced YPFB in an official statement on its website.
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Venezuela Oil To Fall To 400 Mb/d In 2019, Says José Guerra
(Energy Analytics Institute, Piero Stewart, 30.Dec.2018) — Venezuela is currently producing 1,100,000 barrels per day, reported online media El Nacional, citing economist and opposition leader José Guerra. The official also said that figure could fall to 400,000 barrels per day in 2019.
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