Directional impact on forecast:
Downbeat on Brazil’s gas and LNG imports
The pre-salt revolution has already changed Brazil’s gas supply landscape by reducing the country’s reliance on imported LNG and pipeline volumes. Brazil is now preparing itself for two bidding rounds for production-sharing contracts later this year and more auctions in 2018 and 2019, which could further dampen the need for imports in the medium-to-long term.
The two licensing rounds scheduled for later this year will be Brazil’s first production-sharing auction since 2013, when...