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How are LDCs affected by GSAs after the opening of the Brazilian gas market?
Report summary
More than one year after the opening of the natural gas market, the range of discounts is shrinking and getting more complex in terms of indexes. With less uncertainty in international and domestic gas markets, Petrobras is offering up to 11-year contracts (NMG) at lower percentages of Brent and Independent producers are applying smaller discounts on the new Petrobras´ contracts, an average of 5%. Additionally, new GSAs are considering the Henry Hub (HH) as a reference index, especially after 2025, reflecting the wave of new LNG supply from the US and enabling portfolio diversification.
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