Colombia says Venezuela's PDVSA plans to end pipeline contract with Ecopetrol

BOGOTA, March 14 (Reuters) - Colombia's Energy Minister Edwin Palma said Venezuela's state oil company PDVSA intends to end a contract with Colombia's Ecopetrol over the Antonio Ricaurte pipeline, saying there was insufficient investment to repair it.

In a post on X on Saturday, Palma said the government plans to meet with the U.S. government on Monday to discuss lifting sanctions against Venezuela with the aim of normalizing commercial relations.

The announcement comes a day after a high-level meeting between the two countries in Caracas, where officials discussed security, US sanctions and energy cooperation, including repairs to the pipeline.

The Antonio Ricaurte pipeline, which stretches 225 kilometers (140 miles) between the two countries and has transport capacity of 500 million cubic feet of gas, has been inactive for years.

Colombia's energy ministry said earlier this week that the two countries had agreed on a roadmap to repair a damaged section of the pipeline, with PDVSA set to carry out the work in line with environmental rules and along the original route.

Palma noted there is "political will" from both Ecopetrol and PDVSA to review the agreement next year, but to do so sanctions must be lifted and normal commercial relations need to resume.

Palma also said Colombia has approved licenses to resume imports of 1.26 million gallons of liquefied petroleum gas per month from Venezuela.

Palma said talks also included a proposal from ISA Intercolombia to lead investments in electrical infrastructure and connection between Colombia and Venezuela via La Guajira, a region which hosts significant green energy potential.

Controlled by Colombia's state-run Ecopetrol ECO.CN, ISA is a conglomerate which oversees energy, telecommunications and roadways across Latin America.