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Colombia faces a critical energy security crisis as it confronts potential loss of nearly 8% of natural gas supply, rising gas imports covering a quarter of consumption, and severe financial strain in the energy sector amid government debt exceeding $9.2 trillion. A pending Canadian insolvency hearing could authorize early termination of Canacol Energy contracts, while the country simultaneously prepares for an expected El Niño phenomenon that historically forces reliance on gas-fired thermal generation for a third of national energy supply.