BNamericas reported that Colombia's state oil company Ecopetrol expects to resume natural gas exports to Venezuela after programmed maintenance works are completed at the Guajira natural gas field.

Ecopetrol reiterated that the export suspension, which occurred on September 18th 2009, was not the result of political tension between the two countries.

An Ecopetrol official said last month said that "The contract has been complied with since the beginning of 2008 without regard to the political situation between Colombia and Venezuela. This year, we have been selling over 4 million cubic meters a day and we expect to maintain those sales to that market."

Colombia began natural gas exports to Venezuela in January 2008 through a new pipeline that runs from Campo Ballena to Zulia state in Venezuela.

The Guajira Association, made up of Ecopetrol and multinational Chevron, operates the Colombian side of the pipeline, while Venezuelan state oil company PDVSA operates the Venezuelan portion.

PDVSA agreed to purchase an initial 50 million cubic meters a day with the amount rising to 150 million cubic meters a day in 2009 and 2010 before dropping to 100 million cubic meters a day in 2011.

Venezuela is expected to reverse the flow of the pipeline and supply Colombia with 137 million cubic meters a day of natural gas beginning in 2012, with the contract running through 2027. Venezuela has a large natural gas deficit and depends on the imported gas to fuel refineries, as a large part of local production is re injected into oil wells to maintain pressure.

(Sourced from www.bnamericas.com)