Canacol Energy Ltd. announced that the Corporation and Promigas S.A. E.S.P. have executed a series of new ship or pay agreements to transport gas from Canacol's fields located in the departments of Cordoba and Sucre to Cartagena and Barranquilla using existing gas transportation networks. The new agreements enter into effect on December 1, 2020 and will average approximately 100 million standard cubic feet per day over a 10-year period. Despite the lengthy delays caused by Promigas to fulfill its contractual obligations related to the expansion of their Jobo to Cartagena and Barranquilla pipeline networks, Canacol has agreed to enter into these new and revised ship or pay agreements to guarantee the energy security of Colombia. Canacol's primary mission is to guarantee the supply of natural gas to consumers, and given the tight supply demand fundamentals of the market it is important that pipeline projects are delivered on time.