Directional impact on forecast:
Upbeat on gas demand in Brazil and Argentina
Low temperatures in northern Argentina and southern Brazil will test gas supply security in both countries during the southern hemisphere winter (June-August). And while Argentine and Brazilian gas production is rising, pipeline gas and LNG imports will play an important role in meeting demand.
Southern Brazil has a subtropical climate, meaning cold winters have a material impact on gas demand. Forecasts suggest temperatures in the southern half of the country will be 2.5C...