*Brazilian state-controlled oil company Petrobras has announced that it has signed a natural gas sale and purchase agreement with US energy infrastructure company Sempra Infrastructure. Under the terms of the contract, which was signed in late August, Sempra will supply 800,000 tonnes (t) per year of liquefied natural gas (LNG) over a 20-year period. The gas will be sourced from Sempra’s LNG production facility in Port Arthur, Texas. According to a press release by the Brazilian oil giant, the deal will help
“reduce Petrobras’ exposure to spot market volatility, strengthen the risk management of its natural gas portfolio, and enhance the company’s ability to fulfil its contracts with greater flexibility and security”.
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