Petrobras closes 22-year deal to buy gas from the United States
Contract foresees the purchase of 800,000 tons of LNG per year from Cheniere Marketing, in a long-term agreement. Read more at Gazeta do Povo.
TL;DR
- Petrobras signed a 22-year contract to buy 800,000 tons of LNG per year from Cheniere Marketing.
- This is Petrobras' second long-term LNG contract in about a month, following a similar deal with Sempra Infrastructure.
- The strategy aims to reduce dependence on the spot market and secure long-term natural gas supply for Brazil.
- The contract helps diversify supply sources, particularly as production from Bolivia decreases.
- LNG is cooled natural gas, reduced in volume for transport by ships, eliminating the need for direct pipelines.
- Natural gas is crucial for power generation, residential, and industrial consumption in Brazil.
- The deal increases the presence of North American suppliers in Petrobras' long-term planning.