Brazil’s state-owned Petrobras plans to import up to 40 LNG cargoes by the end of this year, a nearly five-fold increase on the number of cargoes it imported in 2009, Marcio Demori, the company’s LNG trading manager, said at the CWC Conference in Barcelona on Thursday. Low rainfall in 2010 has limited Brazil’s hydropower output, forcing the country to ramp up its gas-fired power production.
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