A strong start to the rainy season in Brazil has boosted hydropower reservoirs and cut the nation’s need for liquefied natural gas (LNG) imports, freeing up more of the super-chilled fuel for buyers in need across the world.

A historic drought last year depleted Brazil’s reservoir levels to only 16.7% of capacity at one low point in September. The nation, Latin America’s largest economy, became more dependent on natural gas-fired power. As a result, LNG imports hit a record 7.1 million tons (Mt) last year, which helped disrupt the global market and cut into limited supplies.

The rainy season runs from December to April. Above average rain levels have given relief to the country’s power system, Wood Mackenzie said in a note last week. Hydropower generation has moved back...