Reuters are reporting that Brazil’s Petroleo Brasileiro SA has been authorized to export idle LNG in the spot market.
Petrobras has been given the green light to export up to 6.6 million m3.
As a state-controlled company, some of Petrobras’ commercial strategies require energy ministry authorization. The company operates three regasification terminals in Brazil, which were built in a time when the country was seeing high economic growth rates and natural gas consumption was strong.