Until recently, plans were underway to bring a floating liquefied natural gas (FLNG) vessel to the vast shoreline overlooking Brazil’s Santos Basin, setting the stage for the country to become a potential LNG exporter. Times have since changed – gas demand has increased substantially on the back of higher demand for electricity and as a back-up to a hydropower sector highly prone to seasonality. The country has as a result imported record volumes of LNG via the spot market to supply both consumers and gas-fired power plants. Gas Strategies analyses this shift in the country’s market dynamics, Brazil’s growing demand for LNG, and considers the likelihood of future LNG export projects.
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