Project highlight: Colombia’s SPEC LNG terminal

Colombia

SPEC LNG is Colombia’s only terminal for the importation and regasification of LNG, making it an integral component of Colombia’s gas infrastructure. It is strategically located in the Bay of Cartagena on the Caribbean coast, which has access to the major LNG-exporting markets of the USA and Trinidad and Tobago.

Initially established as part of Colombia’s energy contingency plan, SPEC LNG stores and regasifies LNG, which is then supplied to the three main thermal power plants in the country, TEBSA, Prime Energía and TermoCandelaria.
These plants are utilised when climate phenomena such as El Niño lead to deficits in Colombia’s hydroelectric power supply. During the most recent El Niño from May 2023 to May 2024, SPEC LNG had a 100% utilisation rate and accounted for 35-40% of Colombia’s power generation. The terminal reached operational records in May 2024, receiving nine LNG tankers during the month.
Given Colombia’s ongoing gas shortage, the role of the plant is expanding beyond only supplying thermal power plants to becoming a general supplier of gas for the country. The plant is expected to fill a critical gap in the country’s gas supply until offshore gas commercialisation kicks off around 2029-2030.

SPECIFICATIONS: SPEC LNG’s original capacity was 11.3 mcm (400 mcf) per day, equivalent to 4 bcm (141 bcf) per year. There is a projected early increase to 475 mcf [13.4 mcm] in 2025. This capacity allows the terminal to supply gas for the production of around 2 GW of thermal energy. The company has planned a further expansion for 2027, which will see the plant’s capacity expanded to 15 mcm (530 mcf).
SPEC LNG’s storage capacity is 170,000 cubic metres, with a drought of 12 metres. Its onshore infrastructure includes a metering station and a 9-kilometre pipeline connecting it to the national gas pipeline system.

KEY PLAYERS: SPEC LNG has two shareholders, Promigas (51%) and Royal Vopak (49%). SPEC LNG also relies on Calamari LNG, Colombia’s sole LNG importer, which is in charge of securing both the gas buyer and the gas seller. Like SPEC LNG, Calamari LNG is also located in Cartagena.

TIMELINE: SPEC LNG was inaugurated in 2016. The company has discussed a potential intermediate capacity extension to 13.44 mcm (475 mcf) for 2025 prior to the terminal’s final expansion to 15 mcm (530 mcf), which is due by Q1 2027.

ENVIRONMENTAL AND SOCIAL BENEFITS: The company has set an ambitious target of a 50% reduction in its CO2 emissions by 2028. Furthermore, it supports six Afro-descendent communities in its vicinity via environmental management plans, education programmes and other socioeconomic initiatives.

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