Brazilian national oil company Petróleo Brasileiro (Petrobras) reported a 43.5% year/year (y/y) increase in domestic natural gas sales volumes during the third quarter as severe drought limited hydroelectric output in the South American country.

Brazil

Gas sales totaled 89 MMm3/d, up from 62 MMm3/d in 3Q2020, management said in presenting the firm’s quarterly earnings.

Petrobras relied on its production to meet 40 MMm3/d of demand, with liquefied natural gas (LNG) imports from the global market and pipeline imports making up the rest. Regasified LNG volumes averaged 30 MMm3/d, up almost two-thirds sequentially and 30-fold from a year earlier. Bolivia supplied 20 MMm3/d via pipeline.

The higher volume of LNG delivered to the market was made possible by an expansion of the...