Power generation boosts Latin America’s LNG imports, exports wane

Latin America imported 14.9Mt of LNG last year, up nearly 70% from 2020, according to the International Gas Union (IGU).

In its just released 2022 World LNG Report, the industry group highlighted that the growth was mainly driven by Brazil and Argentina.

“Brazil experienced one of the worst droughts in the country’s history, which reduced its hydropower output. This was exacerbated by limited growth in domestic natural gas production to meet its growing demand,” the IGU said.

Reduced supply from Bolivia and lower domestic output led Argentina to increase deliveries of the liquid fuel from abroad.

Increasing gas use for power generation also led to higher LNG imports in Chile and the Dominican Republic.

The report adds that the largest increase in LNG flows into the region came from North America and the Middle East.

Latin America, however, experienced the greatest decrease in regional exports, with drops in its two exporting markets, Trinidad and Tobago, and Peru.

“Trinidad and Tobago has continued on a downtrend in LNG exports owing to domestic gas shortages, while Peru has been struggling with operational issues,” said the report, available here.

For a look at recent LNG-related content from the region, click on the following links:

Spotlight: New Fortress Energy's partnerships with Mexico's CFE

Trinidad dissects gas monetization options for Suriname

Colombia relaunches US$700mn Pacific LNG tender

Peru LNG’s renewable energy plans receive boost

Crowley Inaugurates Liquified Natural Gas (LNG) Facility in Peñuelas, Puerto Rico

Government of President Nayib Bukele consolidates energy matrix diversification strategy with the start of operations of Energía del Pacífico

Excelerate Energy okayed to operate Brazil LNG terminal

Argentina revives LNG project with gas-starved Europe as export target

Sempra pushing forward Mexican LNG projects with solid govt backing

Wärtsilä power plant coupled to LNG terminal in Antigua could become model for other Caribbean utilities

Also check out BNamericas’ Project Profiles, which feature over 50 LNG, liquefaction and regasification projects.