October 24, 2024 09:58 GMT
LNG: DES Brazil LNG Price Hits New High: Platts
LNG
LNG prices in Brazil continue to rise as import volumes for October approach September levels, Platts said.
- DES Brazil cargoes for deliveries 15-45 days forward were assessed at $13.004/MMBtu Oct. 23, the highest price since the assessment was launched Feb. 1.
- Brazilian importers have been paying premiums over Europe to secure supplies, as Brazil’s national grid boosts gas-fired generation due to low hydropower levels.
- DES Brazil is a 14-50 cents/MMBtu premium over NWE LNG, although Brazil is still paying around a 6 cents/MMBtu discount to Dutch TTF.
- As of Oct. 23, Brazil imported 430k mt of LNG this month. September imports were the highest since Jan. 2022 at 470k mt.
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