LNG prices in Brazil have soared to multi-month highs vs TTF, as the country experiences intense heatwaves and weaker hydropower output, Platts said.

• Des Brazil LNG was assessed at a 1 cents/MMBtu premium to TTF and 27.5 cents/MMBtu above NWE LNG.
• Brazilian buyers have been happy to pay above TTF to secure spot cargoes.
• Brazil has imported 280k mt of LNG so far in September and is the strongest monthly import level since June 2022, Platts said.
• Brazil has imported three cargoes from the US in September to date, and one from Chile. A further US cargo is due to arrive Sep. 20.
• Traders also expect Brazil to continue buying LNG over the winter.