Motorists in the city of Bucaramanga, Colombia, north of the capital Bogota, will benefit from a 1 million peso ($US400) subsidy towards converting their vehicles to compressed natural gas (CNG). The subsidy is the result of a joint project by energy providers, including Gasoriente, ECOPETROL, Transoriente, Terpel and several conversion workshops in the city and is expected to increase conversion rates from 166 per month to 500 per month.
The city is currently home to 6,300 natural gas vehicles (NGVs), 75% of which are taxis and small cars, with the balance being commercial vehicles.
The subsidy is available between now and the end of the year and will reduce conversion costs for a 2.5 litre vehicle to 1.75 million pesos ($US700), which can be financed through participating banks over a 12 month period.
Gasoriente has pledged to keep CNG prices at 50% of the gasoline equivalent and is to establish five more stations within the city by the end of this year, bringing the total number to fourteen.
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