Energy transition and the reactivation of hydrocarbons and mining sectors, priorities for the first 100 days of the Duque administration

Energy transition and the reactivation of hydrocarbons and mining sectors, priorities for the first 100 days of the Duque administration

  • During the first 100 days of the administration, the Ministry of Mines and Energy made progress in structuring the first public tender for increasing the installed renewable energy capacity from 50 to 1,500 MW
  • The mining and energy sector is the first to issue a resolution for a climate change adaptation plan, seeking to reduce CO2 emissions worth 11.2 million tons by the year 2030
  • With the reactivation of the hydrocarbon and mining sectors, the Ministry of Mines and Energy aims to increase investment, create jobs and achieve energy self-sufficiency
  • The 2019-2010 biannual royalty budget will allow regions to count on $24 trillion pesos, thanks to the production of mining activities and hydrocarbons

Ministry of Mines and Energy. Bogota D.C. November 17th, 2018.  Progress towards the energy transition, the adaptation of the mining and energy sector to climate change, and the reactivation of the hydrocarbons and mining sectors, among others, are the achievements of the Ministry of Mines and Energy, led by Minister Maria Fernanda Suarez, during the first 100 days of the administration of President Ivan Duque.

Energy transition

During the first 100 days of the administration, the Ministry of Mines and Energy progressed towards structuring the first public tender for long term electricity, which will be carried out in the first quarter of 2019.  The Government's goal is going from 50 MW in the installed unconventional renewable energy capacity, equivalent to the needs of a city like Ibague, to 1,500 MW, comparable to Cali and Medellin together, thus guaranteeing a more diversified and cleaner energy matrix. The purpose is to diversify, supplement and promote the competitiveness of said energy matrix.    

The National Government's vision is to prepare Colombia for the transition to the fourth industrial revolution, by modernizing the electricity sector with cutting edge technology that contributes to energy efficiency and environmental protection. Tools such as blockchain, big data and automation, smart meters, batteries, active demand participation, electrical mobility, among others, will become essential.

Comprehensive Plan for Climate Change Management

The mining and energy sector is the first to have a resolution corresponding to a plant for climate change management. The goal is a reduction of emissions worth 11.2 million tons of CO2 by the year 2030, which are equivalent to the absorption capacity of the Department of Amazonas over a period of 15 years. The country has a total reduction goal of 66.5 million tons of CO2 (20% of the total emissions for 2030). This means that the mining and energy sector will contribute 17% of the compliance with the national goal by the year 2030.

Reactivation of the hydrocarbons and mining sectors

The Ministry of Mines and Energy has also been working on a plan for the economic reactivation of hydrocarbons and mining activities, both of which are sectors that produce investment and jobs for the country. This plan will allow for increasing oil and gas reserves, currently worth 5.7 years and 11 years, respectively, by securing energy self-sufficiency. "The availability of more resources from royalties for the regions depends on this as well as the continued production of our own fuel. If we do not find more reserves and produce nothing more, we shall have to increase imports and that will be more expensive for Colombians," said the Minister Maria Fernanda Suarez. In addition, gold production is currently being promoted in order to improve development opportunities.

Regarding mining affairs, another highlight is the digitalization of 100% of mining case files, which shall allow for reducing the processing times as well as improving the regional conversations involving the Roundtables for Territorial Mining Interaction (MINA).  

Mining and energy sector, promoting equity, legality and entrepreneurship

During the presentation of the report on the first 100 days of the administration along with President Ivan Duque, the Minister of Mines and Energy, Maria Fernanda Suarez, also underlined the increase in the 2019-2010 biannual budget of royalties, representing resources worth $24 trillion pesos for the regions, thanks to the production of hydrocarbons and mining activities. Finally, Minister Suarez stressed the impact of the mining and energy sector on the three main priorities of the administration: equity, legality and entrepreneurship.

Saturday, November 17, 2018, Cundinamarca, Bogotá D.C., Source: MinMinas
You must to be a registered user to add comments

Comments

Report abuse
  • Other