Colombia's Natural Gas Crisis Deepens as Petro Policies Accelerate Reserve Depletion

Colombia faces a mounting energy crisis as President Gustavo Petro's anti-fossil fuel policies drive sharp declines in natural gas reserves and production, forcing record imports and threatening grid stability. Proven reserves have plummeted to just over 2 trillion cubic feet in 2024 from 5.7 trillion in 2012, leaving only 5.9 years of production life. December 2025 output fell to 693 million cubic feet per day, down 23% year-over-year, according to the National Hydrocarbons Agency. Petro's suspension of new exploration contracts and tax hikes on extractive industries have spurred foreign investor exits. LPG imports surged to 153.93 BCF in 2025, up 60% from the prior year. Natural gas prices in Bogota jumped 16.98% in the December 2025 CPI. Ecopetrol's $5 billion Sirius project, targeting 6 trillion cubic feet, is not expected online until 2030—leaving a projected 56% supply deficit by 2029.