Petrobras has signed a long-term Liquefied Natural Gas (LNG) purchase and sale agreement with Sempra Infrastructure, a US subsidiary of Sempra.
The contract, signed at the end of August, provides for the purchase, by Petrobras, of 0.8 million tons per year (mtpa) of LNG for a period of 20 years, with supply from the Port Arthur LNG Liquefaction Terminal in Texas, United States.
Contracting for long-term volumes helps reduce Petrobras' exposure to spot market volatility, strengthens risk management of its natural gas portfolio, and expands the company's ability to fulfill its contracts in a more flexible and secure manner.
The Port Arthur LNG Liquefaction Terminal, under construction by Sempra Infrastructure in Texas, United States, has access to North American natural gas resources, integrated logistics infrastructure, and is located on the Texas coast (USA). Sempra Infrastructure develops, builds, operates, and invests in energy infrastructure assets, including LNG projects, power grids, and low-carbon solutions.
Source: Petrobras
