Natural Gas and Energy Commission (“CREG”) issued Resolution 084 of 2021 (the "Resolution"), which purpose is to adopt transitory rules for natural gas sale and purchase in Colombia for the 2021-2022 period, temporarily modifying Resolution 186 of 2021 regime.

The transitory rules seek to reduce the minimum term for the following standard contracts: Conditional firm sales contract, CF95, C1 and C2, from three years to one year. It also provides the information report mechanisms for involved agents in order to publish the firm natural gas volumes (PTDVF and CIDVF) for this new standard contract terms.

These measures are looking forward to make firm natural gas contracting more flexible, so that consumers who face high variation in their natural gas consumption due to the effects of the COVID-19 pandemic have more negotiation options to enter into natural gas contracts.
These rules are issued by CREG considering the requests made by the natural gas market agents in Colombia related to the creation of more flexible mechanisms for the purchase and sale of natural gas in Colombia.

To review the Resolution, please click on the following link: http://apolo.creg.gov.co/Publicac.nsf/1c09d18d2d5ffb5b05256eee00709c02/481f6236b5dfeafb052587140053f569