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:US) 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.
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