Latin America to capitalize on its rich natural gas resources

4 August 2010 – According to a report in the Wall Street Journal, the vast amounts of natural gas, that could be principally derived from shale in Latin America means that gas could replace coal in power generation across the world.
Latin America still relies heavily on coal for the production of electric power, with countries like Colombia relying heavily on coal for its exports.
The Colombian coal mine of Cerrejon contributes close to half of the country’s coal exports of 73.1m tonnes. It sold around 16m tonnes during the first six months of 2010 with its clients including energy heavyweights such as China and India.
However, the discovery of sources of natural gas in Latin America could signify the replacement of coal given its adverse effects on the environment.