Petrobras has signed a long-term Liquefied Natural Gas (LNG) purchase and sale agreement with Cheniere Marketing, LLC, a US subsidiary of Cheniere Energy, Inc.
The contract provides for the purchase by Petrobras of 0.8 million tons per year (mtpa) of LNG for a period of 22 years.
The long-term contracting of volumes reflects Petrobras' strategy to reduce exposure to the volatility of the LNG spot market, strengthens risk management of its natural gas portfolio, and increases flexibility and security in fulfilling contracts.
Cheniere Energy, Inc. is the leading producer and exporter of LNG in the United States. The company owns one of the world's largest liquefaction portfolios, comprising the Sabine Pass and Corpus Christi terminals in Louisiana and Texas (USA), with a total operating production capacity of approximately 56 mtpa of LNG.
Source: Petrobras
