Directional impact on forecast:
Bearish on LNG prices
Demand for LNG in Argentina and Brazil – Latin America’s two key consumers of the fuel – has all but vanished despite the two countries being in the southern hemisphere summer (December-February). Falling gas consumption, rising domestic gas production, and weakening macroeconomics will continue to weigh on the countries’ LNG uptake over the coming months.
Argentina and Brazil have imported just one LNG shipment between them so far this summer compared with 16 during the same period...