Brazil sets record in US gas purchases after water crisis

The water crisis has forced Brazil to buy record volumes of gas from the United States; the country went from seventh place in the ranking of largest American liquefied natural gas (LNG) importers in 2020 to fourth place in 2021. Accounting for almost a quarter of the gas supply in Brazil today, LNG imports more than doubled in the last year and are expected to remain high in the medium term, analysts say.

Last year, Brazil imported 3.29 billion cubic meters of LNG, for which it paid US$ 677.24 million, according to data from Global Trade Tracker compiled by consulting firm Wood Mackenzie. From January to September this year, the country purchased 7.19 billion cubic meters of LNG, at US$ 1.85 billion.

See below a history of Brazilian imports of liquefied natural gas from 2019. Data are from DataLiner:

Brazilian Imports of Liquefied Natural Gas (HS 2711.11) from the US | Jan 2019 to Oct 2021 | WTMT

Source: DataLiner (click here to request a demo)

Today, liquefied gas from the USA accounts for 90% of the total volume of LNG imported by Brazil. In 2020, Brazil imported almost 160 million cubic meters from Trinidad and Tobago, 93.87 million cubic meters from Angola, and 3.03 billion cubic meters from the USA. This year through September, it purchased 252.68 million cubic meters from Trinidad and Tobago, 136.59 million cubic meters from Angola, 6.50 billion cubic meters from the US, and a further 307.21 million cubic meters from Qatar.

Source: Valor Econômico

To read the full original article, access the link: https://valor.globo.com/brasil/noticia/2021/12/02/brasil-bate-recorde-na-compra-de-gas-dos-eua-apos- hydro-crisis.ghtml

Sharing is caring!