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 firstname.lastname@example.org
To contact the editor responsible for this story: Stanley James at email@example.com