Prospects for a mild winter in South America, combined with the region’s economic woes, will weigh on LNG imports by key regional consumers in the coming months.
Latin American countries imported 1.76 mt of LNG in May 2016, a fall of 9.3% on an annual basis. Brazil registered one of the sharpest drops in LNG imports in May because of its declining domestic gas demand. The country received only 60,000 tons of LNG during the month – much lower than the 540,000 tons it imported in May last year. GGA expects Latin American LNG imports to decline by 20% year on year in 2016, to 15.4 mt.