Colombia's Ecopetrol will launch a bid for the Covenas regasification Project

Ecopetrol, the state-owned oil company in Colombia, will launch the bidding for a regasification at its Covenas terminal in the northern part of the country later this month. CEO Ricardo Roa announced the plan on Monday. Ecopetrol is expected to begin accepting binding bids on October 14 for the project, with the winner being announced by the end of the calendar year.

Colombia has increased its imports of gas to meet the growing demand.

Roa added that the resources for investment had been "practically approved".

He said that 20 companies expressed interest in the project. The project is expected to import up to 400 millions cubic feet of gas per day by 2030.

The project involves the anchoring a floating storage unit and regasification (FSRU) that will receive shipments imported liquefied gas. (Reporting and writing by Nelson Bocanegra, Alexander Villegas, Editing by Richard Chang).

(source: Reuters)