Colombian president Gustavo Petro has called on NOC Ecopetrol to accelerate its green hydrogen efforts, with an eye toward exports, as the company appoints Ricardo Roa as its new CEO.

Ecopetrol announced a 2022 net profit from oil and gas revenues of more than $7.4mn—double that of the previous year. The company is also progressing two 60MW electrolyser projects capable of producing 9,000t/yr towards startup in 2025 and 2026 and has started construction on two integrated hydrogen production and refuelling stations in Bogota and Cartagena.

“Ecopetrol must be a fundamental partner in the green hydrogen issue. We cannot waste time. Europe needs green hydrogen, and we need to change our export matrix,” Petro said during an inauguration of ambassadors, referring to potential collaboration with Portugal on clean energy.

1–3GW – Targeted electrolyser capacity by 2030

Petro, elected last summer, included a promise to suspend new licences for oil and gas exploration in his campaign—although the country’s Ministry of Mines and Energy has confirmed, since the election, that hydrocarbons are still expected to play a significant role in Colombia’s economy and exports. The National Hydrocarbons Agency has reported a 2.29pc increase in oil production and 0.22pc rise in traded gas production in February.

However, the country’s proven gas reserves are expected to last only up to the next decade—necessitating either new exploration or a reduction in domestic demand.

Colombia’s hydrogen roadmap, published in October 2021, notes gas production and potential carbon storage capacity in depleted fields could be used for blue hydrogen production in the short term—although “moderate or high CO₂ prices are required” to compete on levelised cost with grey. The country targets 50,000t/yr of blue hydrogen production by 2030.

The roadmap adds that strong wind and solar potential, as well as existing hydroelectric generation, could be leveraged for green hydrogen production. It estimates that Colombian green hydrogen could cost $2.8–6.6/kg to produce depending on the region, with this price expected to fall to $2.2–3.7/kg by 2030 and $1.5–2.4/kg by 2050. Colombia targets 1–3GW of electrolyser capacity installed by 2030, with a further ambition for some projects to produce hydrogen at $1.7/kg.

The country aims to establish an export hub in the northern Caribbean region—where cost of production is expected to be one of the lowest in the country—strategically located close to North America with access to both European and Asian markets.

Colombia also aims to stimulate domestic demand from industry and transport. The roadmap expects low-carbon hydrogen to account for 40pc of industry’s consumption by 2030, while a fleet of 1,500–2,000 light-duty and 1,000–1,500 heavy-duty fuel-cell electric vehicles could be deployed by that year—requiring the development of hydrogen refuelling infrastructure in population centres.

The roadmap anticipates $2.5–5.5bn of investment will be required to meet its targets, expected to “originate primarily from the private sector, although public support will be provided where needed”.

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Author: Polly Martin