The support for natural gas in fossil fuel production in Brazil showed a significant decrease from 2013, peaking at $514.78 million, to $202.7 million in 2023, representing a consistent downward trend.
Between 2013 and 2018, support declined significantly, especially between 2013 and 2014, with a notable year-on-year drop of 34.34%. Though there were minor fluctuations, such as slight increases in 2017, the overall trend continued downward, experiencing a year-on-year decline of 8.48% in 2023.
In the forecasted period from 2024 to 2028, this trend is expected to continue with an average annual decline (CAGR) of 9.75%, culminating in a total reduction of support by 40.13% over the next five years, reaching a value of $110.16 million in 2028.
Future trends to watch for include potential policy changes supporting renewable energy sources and technological advancements in gas extraction and production that could impact the level of future support for natural gas in fossil fuel production.
