08/08/2012
Natural Gas Market Undergoes Transformation Autor: Adriano Kats
The natural gas market is in the midst of a transformation. While Bechtel Corporation, one of the largest construction and engineering companies worldwide, finishes the construction of the liquefaction terminal located in Soyo, on the coast of Angola, the regasification terminal in Sabine Pass, Louisiana, that was being readied to receive the liquefied natural gas (LNG) from Angola is now being remodeled at a steep cost to export American LNG. The transformation of what was believed to become a large LNG-importing market into an net exporter, is making traditional exporting countries, such as Qatar and Trinidad and Tobago search for new purchasers, as well as renegotiate their existing supply contracts. At the same time, the natural gas pricing formula, until now in much of the world linked to the price of oil, tends to be replaced by a new one to better reflect market conditions. “These developments can affect the LNG-supply of Petrobrás terminals in Pecém, in the Northeast of Brazil, and in the Guanabara Bay, in the state of Rio de Janeiro” states Adriano Kats, of the international department of Scalzilli.fmv Advogados & Associados.
