Latin America's LNG slowdown
A few years ago, gas exporters thought the Southern Cone would become a huge new market. Not likely
It wasn't long ago that Brazil and Argentina were about to become an important cornerstone for global liquefied natural gas demand. In Brazil, a buzzing economy was driving power demand higher at the same time a historic drought had severely crimped hydropower output. Petrobras turned to international LNG markets to keep the lights on. Argentina's economy was also growing, while declining domestic gas output left the country increasingly short on supply. From virtually nothing in 2010, combined LNG imports into the countries topped 10m tonnes a year in 2014 and 2015, and exporters were courting the Southern Cone consumers to sign long-term deals. But that growth now looks fleeting. Imports i
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