Energy sovereignty, a national vision

Colombia has a golden opportunity to be an energy star in the new economy. 

Nations are built when there are shared visions, when ambitious goals are set and when they are achieved through organised efforts. That requires each of us – government, the business community, workers and citizens – to commit and do our part. 

One of those visions for Colombia should be energy sovereignty, which I like to define as the capacity of each country to use, as much as possible, its own resources for its own benefit. Specifically, a country’s own energy to meet the needs of citizens, communities and companies and, ultimately, to close social gaps. Energy sovereignty makes us masters of our future. 

The importance of energy sovereignty was proven, for the second time in less than a decade, by the Middle East crisis and the closure of the Strait of Hormuz. It showed the vulnerabilities in Europe, where gas prices are soaring and countries have had to urgently turn on coal plants and even postpone transition goals that were announced just a few years ago. 

The story in Colombia is not very different. Since December 2024 we have had to import gas for essential consumption (households, vehicles and small businesses), bringing higher prices for 36 million Colombians, the transfer of industrial consumption to more polluting sources, and higher imports, which already represent a quarter of consumption. 

Alarms are ringing. The probability of a severe El Niño in the second half of the year continues to increase, the electricity system is already showing signs of stress and there is still uncertainty on alternative sources for further gas imports. 

Reality shows us that we must have an energy policy covering the next 5, 10, 15 and 20 years that analyses and manages the risks of supply–demand mismatches and has enough slack to handle strong climatic events and other risks. The optimist in me advises to hope for the best and prepare for the worst. 

Preparing for the future is to take it into our own hands. That starts with recovering our energy sovereignty, understanding that the enemy is emissions, not the energy source. Accordingly, rather than seeing transition as a substitution process, we should consider an orderly addition of sources. Colombia requires all energies to guarantee that sovereignty: hydrocarbons, renewables, geothermal, hydrogen and even nuclear energy, developed with technologies that reduce the carbon footprint of traditional production. 

Argentina is a great example. With the development of fracking in Vaca Muerta, it has turned its future around and regained its energy sovereignty. Today it has an energy surplus and is resolving ‘good’ problems, such as how quickly it can build infrastructure to export surplus gas across the Atlantic. 

Developments in Argentina have been boosted by the large-scale investment incentive program, known as RIGI, which stimulates and protects qualifying investments. Projects totaling investment of over US$100 billion have already been presented for approval, and GeoPark recently applied for a US$1 billion project that would multiply our current production in Argentina by almost ten times in the next three years. 

Colombia has a golden opportunity to be an energy sector star in the new economy. To do this, it must get back on track, reactivate oil & gas exploration, make unconventional development feasible, promote the production and export of strategic minerals, and further accelerate renewables. 

Few shared visions can bring as many benefits as energy sovereignty in terms of growth, income creation and, above all, closing social gaps. 

We have everything we need. All that remains is for us to agree to undertake the task of achieving energy sovereignty. 

Felipe Bayon
GeoPark CEO