Argentina and Brazil reduced their total spending on gas imports by nearly 30% in the first five months of 2017 compared with the same period of 2016, according to customs data.
Brazilian spending on gas imports fell by around 55%. This is principally because the country’s hydroelectricity output increased by 5.8% in the first five months of 2017 compared with 2016 as a whole. This is equivalent to around 2 TWh of extra production per month.
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