The natural gas industry in Latin America is dynamic and evolving, central to the region’s energy landscape. It comprises various players, including major corporations engaged in exploration, production, and distribution, as well as smaller startups focusing on innovative energy solutions. Brazil, Argentina, and Colombia stand out as hotspots for natural gas activity, reflecting their considerable reserves and expanding infrastructures. Notably, as countries prioritize cleaner energy and seek to reduce carbon footprints, there is a growing trend toward investing in sustainable natural gas projects, signaling a bright future for this vital sector in environmental transitions.

Our list features a mix of seven notable investors that highlight the variety of approaches in capital allocation within Latin America's natural gas industry. These investors range from corporate giants like GeoPark and Eneva to venture capital firms like Canary and Norte Ventures, delineating the significance of size and specialization. With headquarters across Brazil, Argentina, and Colombia, each investor has made meaningful contributions to energy solutions in 2024, reflecting their commitment to progress in the sector. Together, these investors represent a total of 39 investments, demonstrating both ambition and potential for growth in the natural gas market.

Top 7 Natural Gas Investors in Latin America

1. Canary

• Website: canary.com.br
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 23
• LinkedIn: canary-venture-capital

Canary is a venture capital firm based in Sao Paulo, Brazil, founded in 2017. The firm specializes in early-stage investments across Latin America, supporting entrepreneurs with capital, co-founding assistance, and fostering a strong community of builders. In 2024, they have made 23 investments, showcasing their active role in the startup ecosystem. Notably, they have invested in companies like Clarke Energia, which raised $600,000 in a seed round, and Bia Energy, which secured $6 million in a pre-seed round. These transactions highlight their engagement in the energy sector, particularly in companies that may have a focus on natural gas and related energy solutions.

2. GeoPark

• Website: geo-park.com
• Type: Corporate
• Headquarters: Argentina
• Founded year: 2002
• Headcount: 201-500
• Number of deals in 2024: 3
• LinkedIn: geopark

GeoPark is a corporate investor based in Argentina, founded in 2002, with a focus on oil and gas exploration and production across Latin America, including Colombia, Argentina, Ecuador, and Brazil. The company emphasizes sustainability and aims to reduce greenhouse gas emissions while providing energy solutions. Notably, GeoPark has been involved in significant transactions that enhance its position in the natural gas sector. For instance, in 2014, GeoPark acquired Rio das Contas Produtora de Petroleo Ltda for $140 million, which included a 10% interest in the BCAM-40 block encompassing the Manati Field in Brazil, a key natural gas asset. Additionally, in 2019, GeoPark announced its acquisition of Amerisur Resources PLC for £315 million, which included multiple production, development, and exploration blocks in Colombia, further solidifying its footprint in the natural gas industry.

3. Atmos Capital

• Website: atmoscapital.com.br
• Type: Venture Capital
• Headquarters: Leblon, Rio De Janeiro, Brazil
• Founded year: 2009
• Headcount: 1-10
• LinkedIn: atmos-capital

Atmos Capital is an investment management firm based in Leblon, Rio de Janeiro, Brazil, founded in 2009. The firm specializes in long-term investments in the Brazilian stock market and offers various investment funds, including Atmos Ações and Atmos Ações II, aimed at qualified investors seeking superior returns. Atmos Capital employs a disciplined investment philosophy focused on capital preservation and thorough analysis of potential investments. Notably, they participated in a significant transaction involving Compass Gás & Energia, which raised approximately $155 million in the secondary market on May 31, 2021. This transaction highlights Atmos Capital's engagement in the natural gas sector, reflecting their willingness to invest in energy-related opportunities.

4. Eneva

• Website: eneva.com.br
• Type: Corporate
• Headquarters: Centro, Rio De Janeiro, Brazil
• Founded year: 2013
• Headcount: 1001-5000
• Number of deals in 2024: 2
• LinkedIn: eneva

Eneva is an energy company based in Centro, Rio De Janeiro, Brazil, founded in 2013. The company specializes in electricity generation and natural gas production, providing tailored energy solutions across various regions in Brazil. Eneva has a significant focus on renewable energy sources and logistics for energy supply, ensuring reliable and competitive energy for its customers. Notably, Eneva has made strategic investments in the energy sector, including the acquisition of the Porto de Sergipe Power Plant from New Fortress Energy Inc. and Ebrasil Energia Ltda. for an implied enterprise value of $2.16 billion. This acquisition includes the totality of shares of Centrais Elétricas de Sergipe Participações S.A. and Centrais Elétricas Barra dos Coqueiros S.A., further solidifying Eneva's position in the natural gas market. Additionally, they have been involved in other investments, such as the seed round for Sunne Energias Renováveis, showcasing their diverse investment strategy while maintaining a core focus on energy.

5. Frontera Energy Corp.

• Website: fronteraenergy.ca
• Type: Corporate
• Headquarters: Bogota, Bogota, Colombia
• Founded year: 2009
• Headcount: 1001-5000
• LinkedIn: frontera-energy-corp.

Frontera Energy Corp. is a corporate investor based in Bogota, Colombia, founded in 2009. The company specializes in petroleum exploration and production, focusing on heavy crude oil and natural gas. Frontera operates primarily in Colombia and Peru, providing essential energy resources to businesses in the energy sector. A notable transaction includes the acquisition of the remaining 36.36% ownership of Pacific Midstream Limited from the International Finance Corporation for $225 million in cash, which was announced on October 24, 2017. This acquisition is significant as it allows Frontera to gain full ownership of Pacific Midstream Limited, thereby reducing transportation costs and obligations, which is crucial for their operations in both oil and natural gas sectors.

6. Norte Ventures

• Website: norte.ventures
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2020
• Headcount: 1-10
• Number of deals in 2024: 11
• LinkedIn: norteventures

Norte Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2020. The firm specializes in providing resources and support for startups in the technology sector, offering consulting services, educational materials, and investment management to help entrepreneurs navigate the challenges of building and scaling their businesses. In addition to their focus on technology, Norte Ventures has made notable investments in the energy sector, including a $6 million investment in Bia Energy during a Pre-Seed round in July 2022. This investment highlights their engagement with energy-related startups, which may include natural gas ventures, alongside their broader mission of fostering innovation in the Brazilian market.

7. SAAM Towage

• Website: saamtowage.com
• Type: Corporate
• Headquarters: Las Condes, Santiago, Chile
• Founded year: 1961
• Headcount: 1001-5000
• LinkedIn: saamtowage

SAAM Towage is a maritime services company based in Las Condes, Santiago, Chile, specializing in tugboat operations. Founded in 1961, the company has grown to operate a fleet of 69 vessels, significantly enhanced by their recent acquisition of 21 tugboats from the Brazilian company Starnav for $198 million in May 2023. This acquisition positions SAAM Towage as a market leader in Brazil's towage industry. The company offers a range of services including harbour towage, oil and gas terminal towage, and offshore support, serving both the shipping and oil and gas industries. Their operations are crucial for safe maritime navigation and logistics, particularly in the context of natural gas transportation and terminal operations across multiple countries in the Americas.

Natural Gas Insights: Key Investors in Latin America

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