CALGARY, AB (By Frontera, 1.Jun.2026, Words: 312) — Frontera Energy Corporation formally became a fully focused, pure-play energy infrastructure company following the completion of the divestiture of its Colombian exploration and production assets to Parex Resources Inc. through its wholly-owned subsidiary Parex AcquisitionCo Inc.
With the divestiture complete, Frontera is uniquely positioned as a focused infrastructure platform within Colombia’s energy value chain anchored by the robust, long-term, predictable cash‑flow generation from its ownership in Oleoducto de Los Llanos Orientales S.A. (ODL) and a portfolio of strategic projects bringing additional growth in its 99.97% owned subsidiary, Sociedad Portuaria Puerto BahĂa S.A., which together provide a differentiated value proposition in the infrastructure space.
Puerto BahĂa has entered into a take-or-pay agreement with ECOPETROL S.A., pursuant to which Puerto BahĂa would provide integrated logistics and liquefied natural gas (LNG) regasification services in Cartagena, Colombia.
The agreement is to be developed in two phases, with initial regasification of 126 MMcfd starting in 2027, increasing to 300 MMcfd after the first 2 years.
In order to fulfill the contract and satisfy additional demand needs, Puerto BahĂa entered into a contract with a US based company which is one of the world’s largest floating storage and regasification unit (FSRU) providers and operators, for the lease of a FSRU and the provision of related operations and maintenance (O&M) services.
The agreement provides Puerto BahĂa with access to an FSRU with LNG regasification capacity of ~500 MMcfd beginning in 2027 for an initial term of seven years, extendable for an additional five to eight years.
The take-or-pay agreement with ECOPETROL represents a committed, offtake volume intended to underwrite the FSRU lease contract.
The project has meaningful upside through potential incremental third-party demand, supported by Colombia’s growing natural gas supply deficit, weather-related supply pressures associated with El Niño conditions, and the additional regasification capacity expected to be provided by the contracted FSRU.
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