New Research Report: Colombia Freight Transport Report 2010

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 16, 2009 --

In October 2007 Álvaro Uribe and Hugo Chávez, the Presidents of Colombia and Venezuela, inaugurated a new bi-national gas pipeline between the two countries. The 220km pipeline runs from Campo Ballesta in Colombia to the lake region of Maracaibo in Venezuela, and has 10 pumping stations. It took over a year to complete, as it began to be laid in June 2006. Although it will initially carry Colombian gas to western Venezuela, the intention is to eventually reverse the flow when Venezuela is able to link its large gas fields in the east of the country to the national grid, and open up an export route to Colombia, Ecuador, and Central America. The pipeline was due to be used to pump 150mn cubic feet per day of Colombian natural gas to Venezuela, supplied from fields operated by US company Chevron and Colombia's state-owned Ecopetrol. On current plans, Venezuela would be in a position to reverse the flow within four to seven years. In our latest Colombia Freight Transport Report, BMI concludes that pipeline throughput (both oil and gas) will grow by an annual average of 4.9% over the next five years. Various factors support this prediction. The economy will grow by an annual average of 4.7% in 2007- 2011, a little faster than the preceding five-year period (an average of 4.5%), partly as a result of rising confidence in the government's market-friendly economic policies. At the same time, however, oil and gas demand will remain strong, and there are growing opportunities for Colombia to act as a transit corridor, particularly for Venezuelan hydrocarbon exports out to the Pacific, on their way to China and other markets. Lawlessness and guerrilla insurgencies, which have targeted pipelines, will continue to be a factor, but the overall security situation is expected to improve Overall prospects for the freight sector are relatively encouraging. We are expecting freight turnover to grow by an average of 6.5% during 2008-2012, significantly ahead of the economy's general growth rate.

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