Demand for LNG imports to Brazil via the Bahia regasification terminal grew in the second quarter despite surging global natural gas prices, according to the terminal’s operator, Excelerate Energy Corp.

CEO Steven Kobos hosted a conference call Thursday to discuss Excelerate’s second-quarter results.

The 700 MMcf/d capacity terminal in the city of Salvador began operations in December 2021.

While a large swathe of its attention is shifting to Europe, management outlined how its expansion into the South American market has been accelerated by supply uncertainty in Brazil. 

Kobos said that “Brazil has been a pleasant surprise about the resiliency of demand in the face of what people thought would lead to demand destruction.”

Excelerate’s Daniel Bustos, chief...