LatinNews Daily Report - 01 May 2012

Brazil | A natural gas ‘golden age’. On 30 April Brazil’s energy minister, Edison Lobão, declared that “Brazil is ready to live a natural gas golden era", after the national petroleum agency (ANP) revised its estimate of the country’s land-based gas reserves. Currently, most of Brazil’s domestic gas production comes from offshore deep-water Atlantic wells. The ANP says it has identified 28 sedimentary basins on land with natural gas potential. It believes that with these reserves, Brazil could increase its domestic supply by 360% over the coming decade, making the country self-sufficient in gas within five years. According to Lobão, Brazil's current production of 2.6bn cubic feet per day could reach 10.6bn cubic feet by 2027. Of the current daily consumption of 3.03m cubic feet, Brazil imports around a third from Bolivia.

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