Petroleo Brasileiro SA (PETR4), Brazil’s importer of liquefied natural gas, received a cargo from Belgium, according to ship-tracking data.
The Excel, with a capacity of 135,344 cubic meters, arrived March 26 at Rio de Janeiro, according to ship transmissions captured by IHS Fairplay on Bloomberg. The tanker sailed from Zeebrugge, Belgium’s LNG terminal, where it loaded the supercooled natural gas and departed March 12.
A Petrobras official in Houston didn’t immediately respond to an e-mail seeking comment outside normal working hours.
Brazil’s driest rainy season in a decade has reduced hydropower supply, boosting the country’s LNG demand, Goldman Sachs Group Inc. (GS) said in a Jan. 28 note. Petrobras, as the Brazilian oil company is known, has a floating regasification terminal at Guanabara Bay near Rio de Janeiro.
Brazil doesn’t have long-term LNG supply contracts with Belgium, according to data compiled by Bloomberg. Belgium doesn’t produce LNG. The Zeebrugge terminal is used by traders to store and export cargoes.
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