Regions

Petroleo Brasileiro SA, Brazil's energy company called Petrobras, stated that it acquired Angolan LNG's first cargo. The acquisition transpired last month when Africa's US$10 billion export terminal was launched following an 18-month postponement.

According to Bloomberg's ship-tracking information, on July 14, the carrier Sonangol Sambizanga would be unloaded near Rio de Janeiro.

Tian Tollefsen, SEB Enskilda analyst based in Oslo, said that the shipment denoted the market's changes since the terminal was intended for exports to the US.

Angola was expected to sell cargoes exclusively although the destination of the other shipments was still unspecified.

The increase in South American demand for cargoes would attract more distributions from Asia's largest importers. This would control the shipping distances which was expected to result in a decrease in demand.

"It would be better for the shipping market if it went to the Far East," Tollefsen stated though phone today. "It's positive that it's up and running, at least, but slightly negative that it's going to South America."