Brazil Receives Spot LNG Cargo From Spain at Guanabara Bay

Petroleo Brasileiro SA, Brazil’s sole importer of liquefied natural gas, received a cargo from Spain, according to ship-tracking data.

The Excelsior, with a capacity of 138,000 cubic meters, arrived March 14 at Rio de Janeiro, according to ship transmissions captured by IHS Fairplay on Bloomberg. The tanker sailed from the Cartagena LNG terminal in southeastern Spain, where it loaded its cargo and departed Dec. 29, according to data on the website of network operator Enagas SA.

Brazil’s driest rainy season in a decade has reduced hydropower supply, boosting the country’s LNG demand, Goldman Sachs Group Inc. 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 any long-term LNG supply contracts with Spain, according to data compiled by Bloomberg.

A Petrobras official in Houston who asked not to be identified because he isn’t authorized to speak to the media, said in an e-mailed statement that the company doesn’t comment on commercial matters.

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