(P&GJ) - The Canadian company Canacol Energy signed an agreement with the Shanghai Engineering and Technology Corp. (SETCO) consortium to build a gas pipeline. The 189-mile (289-km), 22-inch pipeline, from the Jobo gas processing facility to the city of Medellin, was declared part of the National Strategic Interest policy by the Colombian government. The project will connect the Canacol gas fields with the sales market in the interior of Colombia, which represents about 60% of the growing demand for natural gas. Beyond Medellin, the pipeline () will make Canacol's gas available to consumers located in the cities of Bogota, Cali and other regional markets. According to the work schedule prepared by Canacol, the pipeline will go into service in December 2024. The president of Canacol affirmed that the construction of this pipeline will allow Canacol to send new volumes of gas to the internal market of Colombia, and at the same time increase gas sales as a whole to more than 300 MMcf/d until 2025. The project will also provide energy to customers in the interior of the nation, since Ecopetrol's gas fields, which are located there, will begin to decline in 2024. SETCO, headquartered in China, will be in charge of construction, and is primarily involved in construction and the manufacture of pipelines and in Asia and the Middle East. Under the terms of the agreement, SETCO will be responsible for 100% of financing construction and will operate and maintain the pipeline in accordance with the contract signed with Canacol Energy.
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