Ecopetrol (EC) is preparing a plan to resume importing natural gas from Venezuela if the US lifts sanctions, Bloomberg reported Tuesday, citing sources familiar with the matter.

Colombia's state-owned energy company has recently been in discussions about the feasibility of bringing in the fuel, according to the report.

The company is waiting for the outcome of next month's meeting between US President Donald Trump and Colombian President Gustavo Petro prior to starting talks directly with Venezuela, one of the sources said.

The plan to import gas would need the transnational Antonio Ricaurte pipeline to become operational once again, which would require between 18 and 24 months of rehabilitation work, the report said, citing Wood Mackenzie estimates.

Ecopetrol did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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