Petrobras cleared to sell idle LNG volumes

Petrobras cleared to sell idle LNG volumes
Image courtesy of Petrobras

Brazil’s state-owned energy giant Petrobras has been granted permission to offer idle liquefied natural gas volumes in the spot market. 

Citing the official government gazette, Reuters reports Petrobras has been allowed to sell 6.6 million cubic meters, given the export of these volumes would not cause a supply shortage in the domestic market.

The company operated three LNG terminals that helped cover the growing demand for natural gas. However, over the last two years, Brazil was hit by a recession and the domestic production kept climbing, prompting the company to put its LNG terminals in Rio de Janeiro and Ceará for sale.

In December last year, Petrobras has cancelled the Golar Spirit FSRU charter deal it had with Golar LNG Partners.

Golar Spirit FSRU was deployed at Petrobras’ Pecem LNG terminal until July this year.

 

LNG World News Staff

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