Brazil Receives Spot LNG Cargo From Algeria at Guanabara Bay

Petroleo Brasileiro SA (PETR4), Brazil’s sole LNG importer, is receiving a spot cargo of liquefied natural gas from Algeria, according to ship-tracking data.

The Excelerate, with a capacity of 135,313 cubic meters, arrived March 6 at Rio de Janeiro, according to ship transmissions captured by IHS Inc. (IHS) on Bloomberg. The tanker sailed from the Arzew LNG terminal in northern Algeria, where it loaded its cargo and departed Feb. 19, the data show.

Petroleo Brasileiro has a floating regasification terminal at Guanabara Bay near Rio de Janeiro. Brazil’s driest rainy season in a decade has reduced hydropower supply and boosted the country’s LNG demand, Goldman Sachs Group Inc. said in a Jan. 28 note.

A Petrobras official in Houston didn’t immediately respond to an e-mail seeking comment outside normal working hours.

Brazil doesn’t have any long-term LNG supply contracts with Algeria, according to data compiled by Bloomberg.

To contact the reporter on this story: Chou Hui Hong in Singapore at chong43@bloomberg.net

To contact the editor responsible for this story: Stanley James at sjames8@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.