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Brazil's gas prospects fade as import dependence continues

Facing an increasingly costly import dependence its time the country re-thinks its strategy

When Petrobras discovered billions of barrels of oil and gas in pre-salt fields off Brazil's coast last decade, it promised to deliver the country energy independence. Brazil was, it seemed, on a path to become not only a major oil player, but also a significant natural gas exporter, reversing years of import dependence. In 2009, Petrobras was confident enough about its gas prospects that it commissioned a study to build the world's first floating liquefied natural gas (FLNG) export terminal.  But those hopes have long since faded, and Brazil's costly natural gas import dependence is likely to last for at least another decade, argues Ieda Gomes in a new Oxford Institute for Energy Studies r

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