Petrobras Locks in 20-Year LNG Deal with Sempra

Petrobras, Brazil's state-owned oil company, has finalized a long-term contract to purchase liquefied natural gas (LNG) from Sempra's Port Arthur LNG Phase 2 complex in Texas. Under this agreement, Petrobras will receive approximately 0.8 million tonnes per year of LNG.

The deal marks a significant expansion of the U.S. company's presence in international hydrocarbons markets and adds Petrobras to the facility's customer portfolio, ensuring a steady supply of energy resources to South America. Phase 2 of the project will have a total production capacity of nearly 26 million tonnes per year once completed.

The contract aligns with Petrobras' efforts to diversify its energy supply sources across multiple geographies, including recent initiatives in Côte d'Ivoire. Commercial operations for Phase 1 are expected to begin between late 2027 and 2028.