Should Fracking Be Part of Colombia's Plans for Oil & Gas?
Energy attorney Inés Vesga was interviewed by The Dialogue's Energy Advisor about fracking in Colombia. The country's largest oil union recently joined the Colombia Free From Fracking Alliance to protest the government's move toward fracking, which President Iván Duque views as a solution to dwindling oil reserves. Ms. Vesga commented that anti-fracking efforts have been "intense," saying that opposition has come from both the political and social spheres. She added that ongoing pilot projects in Colombia seek to identify and mitigate risks associated with fracking as well as ensure that it can be carried out responsibly. Ultimately, she said, while it is unrealistic to expect renewable energy sources to replace fossil fuels completely in the short term, the county continues to explore ways to expand its energy profile.
"Colombia has established the goal of diversifying its energy matrix, and for this purpose, regulations have been enacted to favor projects based on renewable sources," she elaborated. "While these projects have been declared as strategically important, the country cannot neglect fossil sources, not only because of what they represent in terms of royalty income, but also because they are critical to Colombia's energy independence."