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LNG: Brazil Expected to LNG Competition Over Winter: Platts

LNG
Energy BulletsBulletPower BulletsCommodities

Low-hydro-reservoir due to recent heatwaves in Brazil has sparked LNG demand, which will make the market even more competitive in the months to come, Platts said.

  • Brazil has already imported 280k mt, or four cargoes, of LNG this month as of Sep. 25, its highest since Jan. 2022.
  • Given limited growth expectations for hydroelectricity, gas demand is expected to rise further, driven by the power sector
  • Two cargoes are already being sought for October, as demand remains healthy.
  • While Brazil receives pipeline gas from Bolivia, expanding LNG infrastructure has allowed it to buy more spot volumes.
  • Below-average precipitation during the historical wet period (December-April) led to Brazil importing 0.6m mt in Jan-April, up 0.1m mt on the year.
  • Buying interest from Latam, coupled with reduced exports from Egypt means that Europe may have to pay premiums to TTF over winter to pull LNG cargoes, Platts said.

 

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Low-hydro-reservoir due to recent heatwaves in Brazil has sparked LNG demand, which will make the market even more competitive in the months to come, Platts said.

  • Brazil has already imported 280k mt, or four cargoes, of LNG this month as of Sep. 25, its highest since Jan. 2022.
  • Given limited growth expectations for hydroelectricity, gas demand is expected to rise further, driven by the power sector
  • Two cargoes are already being sought for October, as demand remains healthy.
  • While Brazil receives pipeline gas from Bolivia, expanding LNG infrastructure has allowed it to buy more spot volumes.
  • Below-average precipitation during the historical wet period (December-April) led to Brazil importing 0.6m mt in Jan-April, up 0.1m mt on the year.
  • Buying interest from Latam, coupled with reduced exports from Egypt means that Europe may have to pay premiums to TTF over winter to pull LNG cargoes, Platts said.

 

Keep reading...Show less