Colombia Delays Ecogas Privatization

Colombia has delayed until June 2007 the privatization of its gas distribution company Empresa Colombiana de Gas (Ecogas), the largest gas distributor in the country. The government said it has not had time to prepare the sale through an IPO, as planned. It expects to raise over $330 million through the sale. Ecogas transports natural gas from the north coast and eastern region of the country to the center of Colombia. It has a network of gas pipelines that stretch 3,644 kilometers (2,259 miles).