Canacol Energy Ltd. Provides an Update on its ESG Strategy & Presents its 2020 Sustainability Report

CALGARY, Alberta, June 10, 2021 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to provide the following information concerning its ESG Strategy & 2020 Sustainability Report.

Charle Gamba, President and CEO of the Corporation, commented: “In a constantly changing world we believe in the critical role of natural gas in energy transition, and we fully support the global plans to meet the goals of the Paris Agreement. Specifically, in Colombia, we are committed to contribute to the country’s goal of 51% emissions reduction by 2030. As leaders in the production of the cleanest-burning hydrocarbon, we are committed to supplying the increasing energy demand while reducing carbon emissions, improving air quality, and developing conditions for the growth and development of Colombia’s economy and it’s people.

It is worth noting that we produce almost pure (97%+) methane without any significant quantities of natural gas liquids, condensate, light oil, water, carbon dioxide, nitrogen, sulphur, or other gas or impurities. The pure nature of our produced gas stream allows sales via the gas distribution grid after only minimal, energy efficient processing, thereby reducing operating costs and supporting high rates of return & low carbon footprint. We recognize that sustainability is an essential path for generating value for all our stakeholders.”

Canacol’s objective is to provide cleaner energy to millions of people through the exploration, production, and supply of conventional natural gas. Its primary objective is to generate value for all its stakeholders in a sustainable, collaborative, co-responsible, respectful, and transparent way. Thanks to the transition to natural gas, the Corporation now has a more environmentally friendly value proposition that contributes to the reduction of CO2 emissions in Colombia and a more efficient use of resources. Canacol also continues to support its neighbouring communities in essential social projects such as access to water and utility gas, productive projects, construction and improvement of public and community infrastructure, technical and university scholarships, among others.