LNG imports into Brazil went up 28% during 2014, despite the fact that the country has been hit by worst droughts in history.
According to Platts unit Bentek Energy, last year LNG imports hit a total of 13,472,255 cbm, which is a new annual record. In comparison, Brazil imported 10,514,012 cbm in 2013.
The rise in imports has been accredited to the severe droughts that hit the country that relies on hydroelectric dams for more than 75% of its power generation.
Country’s Southeast-Midwest region’s reservoir levels declined to 16,0%. 70% of Brazil’s hydroelectric capacity is installed in the region.
The state-owned Petrobras increased gas imports to secure Brazil’s energy supply. Ministry data showed the company’s imports through September rose 4.3% on year.
LNG World News Staff; Image: Excelerate Energy