Petrobras Locks in 22-Year LNG Supply Deal with Cheniere

Petrobras has secured a long-term liquefied natural gas (LNG) supply deal with US-based Cheniere. The Brazilian state-run company signed a 22-year agreement with Cheniere Marketing, a subsidiary of Cheniere Energy, for the purchase and sale of 0.8 million tonnes per annum of LNG.

The move is aimed at reducing Petrobras' exposure to volatility in the LNG spot market, strengthening risk management across its natural gas portfolio, and providing greater flexibility and security in meeting contractual commitments.

Cheniere operates the Sabine Pass and Corpus Christi LNG terminals in Louisiana and Texas, with a combined LNG production capacity of about 56 million tonnes per annum (mtpa).