Brazil Turns to LNG as Drought Threatens Hydro Reservoirs.

Brazil is turning to liquefied natural gas (LNG) as a backup power source due to dry weather threatening its hydropower production. The country typically relies on hydroelectricity for its power needs but switches to gas when water levels are low. Energy suppliers in Brazil, including state-owned Petroleo Brasileiro SA, are seeking six LNG cargoes for delivery in September. This increased use of gas will impact consumers and industries, leading to higher bills. The situation is not as critical as in 2021, but the purchases coincide with strong demand in Asia and Europe due to various factors. [Extracted from the article]