Brazil

The wave of liquefied natural gas (LNG) cargoes headed to Europe has started to slow as storage on the continent rises, but there are signs that extreme prices could be delaying an anticipated ramp up from Asian buyers. Instead, more volumes of LNG have been steadily heading to destinations like Brazil, according to research from…

Brazilian national oil company Petróleo Brasileiro (Petrobras) saw falling natural gas demand and the need for fewer liquefied natural gas (LNG) cargoes in the first quarter as rainfall replenished the nation’s reservoirs. Natural gas demand dropped to 67 million cubic meters/day (MMm3/d) in the first quarter, compared to 81 MMm3/d in the same period last…

First-phase production has begun at the immense Mero deepwater oil and natural gas field off the Brazilian coast. Mero is located in the Libra block, more than 150 kilometers (93 miles) off the coast of Rio de Janeiro in the prolific pre-salt area of the Santos Basin. Libra is operated by Brazilian national oil company…

Market-friendly reforms and rising output from the offshore pre-salt region have laid the groundwork for Brazil’s natural gas market to grow, a panel of experts agreed at CERAweek in Houston. President Jair Bolsonaro last year signed a highly anticipated natural gas law aimed at opening up access to the pipeline network and promoting competition in…

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…

Although headlines on current tightness in the global natural gas market have mostly focused on Europe, Latin America has played a role in the crisis as well, according to Columbia University’s Luisa Palacios. Palacios, a senior research scholar at Columbia’s Center on Global Energy Policy, spoke to NGI’s senior Mexico and Latin America editor Christopher…

Floating specialist Excelerate Energy has started delivering natural gas to the Brazilian market at the Bahia regasification terminal in Salvador, Bahia. Excelerate’s floating, storage and regasification unit (FSRU) Excelerate Sequoia has an LNG storage capacity of 173,400 cubic meters. Excelerate and Brazilian state oil company Petróleo Brasileiro (Petrobras) signed the lease contract at the end…

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

Latin American liquefied natural gas (LNG) demand has had a record year in 2021 and it is not letting up, tightening a global gas market that has sent prices spiking around the world. Imports of LNG into Latin America for the first eight months of the year added up to 10.44 million tons, according to…