Brazil’s natural gas demand jumps 12.8%, LNG regasification 36% in July
The total demand for natural gas in Brazil jumped 12.8% on the month to 75.8 million cu m/d in July, according to the most recent Brazil’s Ministry of Mines and Energy’s report.
The average import of Bolivian gas in July remained stable at 12.99 million cu m/d. However, the regasification level of LNG increased 36% month on month to 12.41 million cu m/d in July.
The higher LNG imports were due to lower global LNG prices during the period, which according to the report reached the second lowest imported price of the year in the country.
Even though the average price of imported LNG by Brazil increased to $5/MMBtu in July from $4.6/MMBtu in June, the report showed, the price was competitive given the fact the gas imported from Bolivia averaged $5-$6/MMBtu, according to multiple market participants.
Meanwhile, Brazil’s domestic supply accounted for a 6.7 million cu m/d increase month on month, totaling 56.85 million cu m/d of gas in July, a 13% increase from June.
So far in 2019, 69% of the total natural gas offered in the Brazilian market was domestically produced, the report showed.