Petrobras locks in 22-year LNG supply deal with Cheniere

Petrobras has secured a long-term supply of Liquefied Natural Gas (LNG) through a new agreement with Cheniere Marketing, LLC, a subsidiary of Cheniere Energy, Inc. (NYSE: LNG). The deal, spanning 22 years, will see Petrobras purchasing 0.8 million tonnes per annum (mtpa) of LNG, marking a significant step in the company’s strategy to stabilize its natural gas portfolio.

The agreement aims to reduce Petrobras’ exposure to the volatile spot market, enhancing risk management and ensuring flexibility in meeting contractual obligations. This long-term contract aligns with Petrobras’ broader goal of securing a more stable and predictable LNG supply.

Cheniere Energy, Inc. is a major player in the U.S. LNG sector, operating the Sabine Pass and Corpus Christi terminals in Louisiana and Texas. With a current production capacity of approximately 56 mtpa, Cheniere is one of the largest LNG producers and exporters globally.