US developer inks Colombia LNG project financing

A US-based consortium has secured financial backing for a new LNG import terminal in Colombia, aiming to plug a looming supply-demand gap.

Caribe LNG, a joint venture between Houston-based Andalusian Energy and Miami-headquartered Course2 Energy, said it obtained a financing facility with private credit platform ArtCap Strategies.

The agreement relates to the project’s floating storage unit (FSU) and key ancillary infrastructure.

“This partnership with ArtCap accelerates our ability to deliver a transformative project that strengthens Colombia’s energy security,” Caribe LNG managing partner Pablo Tribin said in a statement on Monday.

It added that the financing is part of a “broader capital structure” that includes plans for long-term senior debt facilities.

Caribe LNG said the project was due online in 2026 and represented Colombia’s first fast-track FSU-based LNG import terminal. 

It provided no further details of the financing agreement or the project, and did not immediately respond to a request for comment by BNamericas. 

Data published by natural gas market administrator BMC show Colombia faces a deficit of 76.5BBTU/d (billion British thermal units per day) in 2025 and 190BBTU/d in 2026.

The situation has been exacerbated by a sharp decline in gas reserves, which fell 13% in 2024 to 2.064Tf3 (trillion cubic feet), equivalent to less than six years of consumption, according to official figures.

Caribe LNG is the latest in a slew of regasification projects designed to address possible shortages.

BNamericas is aware of at least seven other projects at varying stages of development on both the Caribbean and Pacific coasts that together could involve investments of billions of US dollars.

Details of the projects can be seen here. 

Colombia’s only existing LNG import terminal is the 400Mf3/d (million cubic feet per day) Cartagena regasification plant, which began operating in 2016.