Petrobras signs 20-year 0.8 mtpa LNG contract with Sempra Infrastructure
Key highlights
- 0.8 million tonnes per year of LNG contracted.
- Contract term is 20 years.
- Supply will come from the Port Arthur LNG liquefaction terminal in Texas.
- The deal is intended to reduce spot-market exposure and strengthen natural gas portfolio risk management and supply flexibility.
Deal details
Petrobras signed a long-term purchase and sale contract for liquefied natural gas with Sempra Infrastructure. The contract provides for the purchase of 0.8 million tonnes per year of LNG for a period of 20 years.
Supply source
Volumes will be supplied from the Port Arthur LNG liquefaction terminal in Texas, United States, which is under construction by Sempra Infrastructure. The terminal has access to North American natural gas resources, integrated logistics infrastructure and is located on the Texas coast.
Strategic rationale
Petrobras says contracting long-term volumes reduces exposure to spot-market volatility, strengthens natural gas portfolio risk management and expands the company’s ability to meet its contracts in a more flexible and secure manner.
Source: Petrobras
