GNL 2024: Edición América Latina y el Caribe

This briefing by Global Energy Monitor (GEM) analyzes the expansion of liquefied natural gas (LNG) infrastructure in Latin America and the Caribbean (LAC) as of October 2024. It details significant planned investments in export terminals in Mexico and Argentina, and import expansions in Brazil, while warning that these projects risk becoming stranded assets in the energy transition and may conflict with global climate goals to limit warming to 1.5 °C.

• Global LNG development in 2024 saw an estimated $1.1 trillion investment in new terminals, a 6% increase over the previous year. This growth persists despite International Energy Agency (IEA) warnings that LNG trade must peak this decade to limit global warming to 1.5 °C. Current global development includes an export capacity of 1,048.2 million tonnes per annum (mtpa) and an import capacity of 672.7 mtpa.
• Mexico has the world's third-largest planned LNG export expansion with a proposed capacity of 73.6 mtpa, estimated to cost $54.3 billion. These projects largely rely on US gas from the Permian Basin. Key projects include the Saguaro Energía terminal (15-30 mtpa), the Costa Azul terminal (with Train 1 at 3.25 mtpa), and the GNLF terminal in Altamira (Train 1 at 1.4 mtpa). However, these face financial hurdles, permitting delays, and environmental concerns regarding marine species in the Gulf of California.
• Argentina is planning the 'Terminal de GNL de Argentina', a $30 billion project with a capacity of 30 mtpa, which would be one of the largest export projects globally. The terminal would export gas from the Vaca Muerta unconventional basin in Neuquén. This development is controversial due to environmental justice issues, including lack of drinking water and toxic remnants for local communities, and is described by environmentalists as a "carbon bomb" that could consume 11% of the global carbon budget for 1.5 °C.
• Brazil is planning the world's fourth-largest expansion of LNG import terminals, totaling 36.5 mtpa. The country's import capacity has more than doubled in the last five years to address unreliable hydroelectric generation during droughts and declining gas imports from Bolivia. New operational terminals include FSRU Barcarena and FSRU Terminal Gás Sul (6 mtpa each), following earlier projects like FSRU Sergipe and FSRU Porto do Açu (5.6 mtpa each).
• Other LAC countries are developing 9.4 mtpa of import capacity. Chile is reviving the 2.7 mtpa FSRU Penco Lirquén project for a 2027 start, while Nicaragua is constructing the 1.3 mtpa FSRU Puerto Sandino for late 2024. Colombia has 4.1 mtpa of import capacity in development, though projects like the FSRU de Buenaventura have struggled to attract investors.
• LNG terminal development is linked to broader gas infrastructure expansion. Current projects are connected to the construction of 2,652 km of new gas pipelines and 19.3 GW of new gas-fired electricity capacity. In Brazil, an additional 7.5 GW of gas-fired electricity is being developed to support import terminals operational since 2020.
• The total estimated investment for planned LNG terminals in LAC is $123.6 billion. GEM argues that these investments risk becoming stranded assets and that the region should instead prioritize its abundant renewable resources. Renewable energy already provides 60% of the region's electricity, and GEM suggests the region could meet or exceed 2030 neutrality targets if planned large-scale renewable projects are implemented.

APA

Global Energy Monitor (2024). GNL 2024: Edición América Latina y el Caribe. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-Latam-LNG-brief-Oct-2024_Spanish_11.pdf

Chicago

Global Energy Monitor. GNL 2024: Edición América Latina y el Caribe. 2024. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-Latam-LNG-brief-Oct-2024_Spanish_11.pdf.

Wikipedia

{{cite report |author=Global Energy Monitor |title=GNL 2024: Edición América Latina y el Caribe |date=October 2024 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-Latam-LNG-brief-Oct-2024_Spanish_11.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{globalenergymonitor2024gnl, author = {{Global Energy Monitor}}, title = {{GNL 2024: Edición América Latina y el Caribe}}, institution = {Global Energy Monitor}, year = {2024}, month = oct, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-Latam-LNG-brief-Oct-2024_Spanish_11.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }