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LNG: Brazil’s LNG Demand Could Rise Further amid Drought: Platts

LNG
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Brazil's LNG demand could increase over the coming months, according to Brazil's National Center for Monitoring and Early Warning of Natural Disasters, cited by Platts.

  • This is because 2024 has already seen the most extensive and intense drought in Brazil in the last 70 years, cutting hydroelectric power supply.
  • Current drought conditions could worsen with the prospect of a delayed start to the rainy season, with the central-north region potentially seeing an intensification of drought conditions over the next three months.
  • Petrobras has been seeking LNG cargoes on the spot market to meet growing demand, having already purchased four LNG cargoes for September.
  • The BP Chartered Celsius Geneva carrying 2 TBtu of LNG has pushed back its estimated arrival date into Rio de Janeiro’s Guanabara Bay regasification terminal to Sep. 6, compared to an initial ETA of Sep. 4.
  • The Guanabara Bay terminal last received LNG in early January.
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Brazil's LNG demand could increase over the coming months, according to Brazil's National Center for Monitoring and Early Warning of Natural Disasters, cited by Platts.

  • This is because 2024 has already seen the most extensive and intense drought in Brazil in the last 70 years, cutting hydroelectric power supply.
  • Current drought conditions could worsen with the prospect of a delayed start to the rainy season, with the central-north region potentially seeing an intensification of drought conditions over the next three months.
  • Petrobras has been seeking LNG cargoes on the spot market to meet growing demand, having already purchased four LNG cargoes for September.
  • The BP Chartered Celsius Geneva carrying 2 TBtu of LNG has pushed back its estimated arrival date into Rio de Janeiro’s Guanabara Bay regasification terminal to Sep. 6, compared to an initial ETA of Sep. 4.
  • The Guanabara Bay terminal last received LNG in early January.