The market for the Colombia oil and gas midstream market is expected to register a CAGR of more than 1.52% during the forecast period . Factors such as increasing production and increasing consumption of oil and gas are expected to boost the demand for the Colombian oil and gas midstream market during the forecast period. However, regular supply disruption by rebels caused unreliability in the industry and has created large-scale losses for the pipeline companies. This factor is expected to hinder the growth of the market studied in the coming years.
– More than 80% of the pipeline capacity in the country is owned by the government enterprise of Ecopetrol. No new pipelines are under construction or proposal stage in 2019. The pipeline capacity is expected to remain stagnant during the forecast period.
– The Colombian government-owned company is expected to invest in the exploration and production of Colombia’s oil and gas fields. It is likely that the investment would increase production and create an opportunity for the oil and gas midstream companies in the near future.
– Increasing gas oil and production and further plans to increase the output is expected to drive the market. Moreover, infrastructure related to the storage and LNG terminals is likely to increase as the demand for oil and gas in the country increases.
Enquire before purchasing this report: https://www.sdki.us/sample-request-87639
Key Market Trends
Pipeline Sector to Remain Stagnant
– Colombia has an extensive crude oil distribution infrastructure, which is primarily located in the northwest and center of the country close to most of the crude oil and gas producing. As of 2018, Colombia has seven major oil pipelines and three major gas pipelines.
– Natural gas production in Colombia comes from two primary sources: associated gas from inland fields (Cusiana, Cupiagua, and Pauto Sur) and unassociated gas from offshore fields (Chuchupa field).
– In 2018, the total capacity of oil pipelines in the country is approximately 1,380,000 barrels per day. Ocensa pipeline with a length of 520 miles (835 km) and a capacity of 590,000 barrels per day is the largest pipeline in the country.
– The oil production increased in the country, by 1.4%, from 854 thousand barrels per day (kbpd), in 2017 to 866 kbpd, in 2018. The oil consumption in the country increased, by 0.74%, year on year, from 342 thousand barrels per day (kbpd), in 2017 to 332 kbpd, in 2018.
– Hence, pipeline capacity is expected to remain stagnant during the forecast period due to no new investment proposal being made in the pipeline sector. Also, continuous attacks on pipelines by the rebels make them a risky investment.
Increase in Investment to Drive the Market
– Buenaventura FSRU Import Terminal is, in 2019, an LNG Terminal is being constructed in the country. The terminal is expected to come online by 2023.
– In 2019, Royal Vopak acquired a stake in the Colombian LNG import facility, Sociedad Portuaria el Cayao (SPEC), in Cartagena. It is the only working LNG import facility in Colombia.
– In 2018, Colombia had about 3,100 miles (5000 km) of natural gas pipelines with a total capacity of 864 million cubic feet per day (mmscfpd). The largest gas pipeline in the country is Barrancabermeja–Nevia–Bogota pipeline, with a capacity of 436 mmscfpd.
– Consumption of natural gas increased in the country, by 3.93%, year on year, from 9.6 million metric ton of oil equivalent (mtoe), in 2015 to 11.2 mtoe, in 2019. Production of gas in Colombia increased significantly by 2.64%, year on year, from 10.0 Million metric ton oil equivalent, in 2015 to 11.1 Million metric ton oil equivalent, in 2018.
– The Colombia oil and gas midstream industry is expected to grow slightly over the forecast period due to an increase in investment and an anticipated increase in the consumption of oil and gas.
Colombia Oil and Gas Midstream Market Size in 2022 : 1.52% CAGR with Top Countries Data, Key Regions and Growth Forecast to 2031
Indonesia Oil and Gas Midstream Market is Poised to Grow at a CAGR of 1.83% during the Forecast Period of 2022-2031
HVDC Converter Station Market is Set to Experience a Significant Growth of 9.05% CAGR from 2022 To 2031
Europe Turbo Generator Market Size Predicted to Increase at a Positive CAGR Of 3.5% from 2022 to 2031
Submarine Electricity Transmission Systems Market Envisioned to Generate a CAGR of 11% from 2022-2031
India Wireline Logging Services Market Size in 2022 : 2.3% CAGR with Top Countries Data, Key Regions and Growth Forecast to 2031