Brazil Receives Reloaded LNG Spot Cargo From Portugal at Pecem

Petroleo Brasileiro SA (PETR4), Brazil’s importer of liquefied natural gas, received a spot cargo from Portugal, according to ship-tracking data.

The Wilgas, with a capacity of 126,975 cubic meters, arrived April 18 at the port of Pecem in northeastern Brazil, according to ship transmissions captured by IHS Fairplay on Bloomberg. The tanker sailed from Portugal’s Sines LNG receiving terminal, where it reloaded the supercooled natural gas and departed March 24.

Rio de Janeiro-based Petroleo Brasileiro, also known as Petrobras, has a floating regasification terminal at Pecem. The Sines LNG terminal, with a capacity of 5.26 billion cubic meters of natural gas a year, is managed by REN-Redes Energeticas Nacionais SA, Portugal’s power and gas grid operator.

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

Brazil’s driest rainy season in a decade has reduced hydropower supply and boosted the country’s LNG demand, Goldman Sachs Group Inc. (GS) said in a Jan. 28 note.

Petrobras has no long-term LNG-purchase contracts with Portugal, 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: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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