Petrobras Jan-Sep LNG imports down by 63 pct

Brazil’s state-controlled oil and gas company Petrobras said Friday its liquefied natural gas (LNG) imports dropped by 63% in the January-September period.

LNG imports into Brazil stood at 42 Mbbl/d (thousand barrels per day) in the mentioned period, as compared to 112 Mbbl/d the year before, Petrobras said in its third-quarter report.

Petrobras attributed this decline mainly to lower thermoelectric demand in Brazil.

Petrobras is reducing its role in the Brazilian natural gas and LNG industry. The company earlier this year said it will sell its LNG terminals in Rio de Janeiro and Ceará, along with the thermoelectric power plants associated with these terminals.

The Brazilian company reported a massive loss for the third quarter of 16.458 billion reais ($4.85 billion) after reducing the value of its assets and “weak” oil prices.

LNG World News Staff