Oil and Gas

Record-high LNG imports by Petrobras indicate worsening water crisis

Jul, 21, 2021 Posted by Ruth Hollard

Week 202129

Petrobras imported 42 million m³ per day of liquified natural gas (LNG) from a stock of 109 million m³ per day. According to the company, this value is equivalent to the entire supply of national gas injected into the Brazilian network and double what is being imported from Bolivia.

According to the report released by Ágora Investimentos and obtained by the Money Times this Tuesday, July 20, the record import is a sign of the worsening of the water crisis, as the product is used to activate thermal plants for energy generation.

According to analysts Vicente Falanga and Ricardo França, Petrobras has reorganized its LNG terminals to increase Brazil’s import capacity.

“LNG is an important alternative source of gas supply and Brazil has at least four new terminals under construction in the coming years”, commented the analysts when signing the Ágora report.

Meanwhile, demand for energy in the SIN (national interconnected system) rose 8.1% in June compared to the same period last year, driven especially by the recovery of the industrial sector, said the ONS (national electric system operator) on Monday, July 19.

Source: Money Times

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