Brazil's liquefied natural gas (LNG) imports have shown significant fluctuations over the past decade. From 2013 to 2023, the volume varied widely, reaching a peak of 10.13 billion cubic meters in 2021 and a low of 1.71 in 2017. As of 2023, the LNG import volume stood at 5.51 billion cubic meters. Year-on-year changes have been volatile, with the most notable increase of 202.99% occurring in 2021, followed by a dramatic decrease of 77.23% in 2022 and a significant rise of 138.9% in 2023.
The compound annual growth rate (CAGR) over the five years leading up to 2023 was 13.91%, indicating an overall upward trend despite short-term volatility. Looking forward from 2024 to 2028, the forecasted CAGR is 3.09%, with a projected overall growth rate of 16.45%. This suggests a steadier, albeit moderate, increase in LNG imports in the near future.
Future trends to watch for include the influence of global LNG pricing, domestic energy policies, and the development of renewable energy sources. Changes in these factors can significantly impact the forecasted growth of LNG imports in Brazil.
