Sept 30 (Reuters) – A gas pipeline connecting neighbors Venezuela and Colombia that has remained idle in recent years needs to be repaired and reopened as soon as possible, the head of Colombia’s gas association Naturgas, Luz Stella Murgas, said on Wednesday.
The infrastructure is increasingly seen as essential to help Colombia reduce a natural gas deficit that is jeopardizing several industries. However, it needs to be repaired through a project that is pending a license from the US Treasury Department.
“It’s not in optimal conditions,” Murgas said at a conference in Caracas, referring to the pipeline.
The gas pipeline will require a minimum investment of $66 million before exports to Colombia can begin, Sandra Conde, transport and gas director at the Development Bank of Latin America and the Caribbean (CAF), told the conference later on Wednesday.
“The infrastructure has been sitting idle since 2015 and needs to be restored,” Conde said. “We believe it is a project that Venezuela can monetize and solve the neighboring country’s gas supply problem.”
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