The weather is not expected to support gas demand in Latin America in the coming months, further reducing the region’s dependence on imported LNG.
Brazil is forecast to receive higher levels of rainfall during the summer (December-February), which will weigh on gas demand from the country’s power sector by boosting hydropower generation. There is a 40% chance of above-average rainfall in northern and northeastern parts of Brazil during the summer. This is in sharp contrast to last summer, when these regions suffered a drought.
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