Colombia's CREG reveals new LPG framework

Wednesday, June 17, 2015

Colombian natural gas regulator CREG has released a new framework proposal for the sale of LPG.

A presentation on the guidelines states that the blends of butane and propane must be approved by the CREG.

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"These studies will serve as input for the new regulations on the wholesale of LPG," said CREG head Jorge Pinto Nolla.

In the initial auctions the LPG sources will be the Apiay, Cartagena and Barrancabermeja refineries, along with the Cusiana and Dina fields.

Contracts will last six months or three years, with prices for the longer contracts being adjusted biannually.

Natural gas prices will be determined by the Guajira and Cusiana fields.

Customers will also be compensated for a delay in delivery or if order totals are not fully met.