Petrobras Locks in 22-Year LNG Deal Amid Fuel-Price Pressures
Petrobras has agreed to a 22-year liquefied natural gas (LNG) supply deal with Cheniere, according to Reuters. This agreement provides Petrobras with a defined LNG supply channel for Brazil's gas and power market.
The contract aims to reduce exposure to volatile spot LNG prices and improve supply flexibility, which is particularly important given the current domestic fuel-policy pressure on Petrobras.
Additionally, Petrobras reported USD 16.70 billion of net income for the first half of 2026, up 55% from USD 10.80 billion in the same period last year. Sales revenue reached USD 57.10 billion, a 36% increase from USD 42.10 billion.
The LNG deal and Petrobras' strong financial performance may not be enough to boost its stock price, however, as it has fallen 1.23% to EUR 18.50 on October 2, 2026.