On July 21, 2026, Brazil's anp approved the country's first framework governing third-party access to LNG import terminals, operationalizing the open-access mandate of the 2021 New Gas Law (Lei 14.134). This ends the era of "private club" terminals owned by Petrobras, Eneva, Compass, and New Fortress.

Key Dealmaker Implications:

• Contestable Fuel Supply: Independent Power Producers (IPPs) can now contract FSRU or onshore capacity to land cargo, shifting fuel inputs from Petrobras spot-desk terms to bankable, contestable contracts.
• Enabling Amazon TPPs: The framework provides critical economic coherence to a concurrent Senate bill to auction new gas-fired thermoelectric plants in the Northern (Amazon) region.
• Mitigating Supply Risks: With Equinor forecasting global LNG tightness through 2028, open access lets IPPs pool volumes and diversify import risk.

Dealmakers must now re-price the fuel-supply annex of all Brazilian gas-to-power models to factor in real terminal-access optionality.

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