Ecopetrol will ask PDVSA to grant it the right to operate the Colombian section of the "Antonio Ricaurte" gas pipeline
Joaquín Gutiérrez, president of Ecopetrol, highlighted that they are negotiating with PDVSA “a 10-year gas purchase and sale contract at a very competitive price.”
The Colombian oil company Ecopetrol applied for a license from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), with the aim of making the operation of the binational “Antonio Ricaurte” gas pipeline with Venezuela visible.
He also indicated that he will ask Petróleos de Venezuela S.A. (PDVSA) to operate the Colombian section of the gas pipeline, while negotiating a 10-year gas purchase and sale agreement at competitive prices, according to Valora Analitik.
Joaquín Gutiérrez, president of Ecopetrol, noted that «we will ask PDVSA to grant us the operation of the Colombian section, the 88 kilometers in Colombia, and we are negotiating a 10-year gas purchase and sale agreement at a very competitive price, which will be much lower than current market prices».
He stated that they had already requested «an OFAC license for the gas pipeline, because we are a company that complies with the rules and we will not take a single step outside that framework. Venezuela is a great opportunity, but it will not become a dependency».