LNG

Brazil may pay price for Q1 hydro binge

Brazil leaned heavily on its huge hydro dams in Q1 2017, but reservoir levels are dwindling and the country may soon be competing for spot LNG cargoes Brazil leaned heavily on its huge hydro dams in Q1 2017, but reservoir levels are dwindling and the country may soon be competing for spot LNG cargoes.
By Chris Noon 24 April 2017 0 25592

Brazil appears to have gambled on the elements to meet its power demand in recent months, according to data from grid operator ONS. But vastly reduced hydropower availability could result in Brazil returning to the LNG spot market in Q2 2017.

Brazil was able to ramp up power dispatch from its hydroelectric dams in Q1 2017 because of the heavy El Niño rains that ended a three-year drought in the southeast of the country in 2016. The rains restored Brazil’s hydro...