Political Risk Latin America Blog @PolRiskLatam

Colombia’s Energy Renaissance

Posted in News and Articles, Political Risk by politicalrisklatam on December 16, 2010

by Lisa Viscidi for Americas Society / Council of the Americas, December 2010.

Colombia’s Energy Renaissance tells the story of how Colombia has revived its once flailing energy sector over the course of the last decade, developing into one of Latin America’s foremost destinations for investment in the oil and gas sector and securing a steady supply of electricity for its growing population. As part of our focus on hemispheric energy issues, the AS/COA’s Energy Action Group (EAG)* produced this paper to sum up ideas stemming from a June 2010 roundtable on energy in Bogota, Colombia.

Bringing together leading public and private sector representatives for a conversation on key energy issues in Colombia, the EAG’s Bogota roundtable explored Colombia’s oil and gas regulatory framework, electricity sector, political climate, and environmental challenges. The paper makes several recommendations, drawn in part from that session.
Recommendations:

  • Colombia should continue to prioritize regulatory and contractual stability to ensure investor confidence.
  • In order to expand regional energy integration in the electricity and oil and gas sectors, Colombia should seek to address inconsistencies in the regulatory frameworks between Colombia and its neighbors.
  • Colombia should encourage investment in oil and gas pipelines and expand the power grid to bring electricity to all communities.
  • Colombia should protect the environment and local communities without stifling development of the oil and gas sector.
  • Colombia should continue to focus on a long-term strategy for encouraging greater use of cleaner, reliable fuels, such as natural gas, in the energy matrix.
  • Colombia should capitalize on its clean energy matrix and take advantage of carbon financing.

Download a PDF of the report.


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