February 21, 2025 [Petrobras]- Petrobras has signed a long-term purchase and sale agreement for Liquefied Natural Gas (LNG) with the British company Centrica. The agreement is an important step in the company’s strategy: it reduces exposure to spot prices , increases competitiveness and ensures greater security of natural gas supply to Brazil.

The agreement provides for the purchase by Petrobras of 0.8 million tonnes per year (mtpa) of LNG for 15 years. The supply will be made from Centrica’s portfolio, including the Sabine Pass and Delfin LNG liquefaction plants. The agreement is subject to the taking of the Final Investment Decision for the Delfin LNG project, currently under development by Delfin Midstream.

“The contract with Centrica is aligned with Petrobras’ priorities of reducing its exposure to spot market volatility , increasing competitiveness and being the best option in this segment for the composition of clients’ portfolios. We also consider the contribution of this important input to promoting the energy transition”, explains Petrobras’ Director of Energy Transition and Sustainability, Maurício Tolmasquim.

“Centrica invests to deliver the energy security, efficiency and decarbonisation solutions our customers need. This agreement demonstrates our approach to building long-term partnerships while de-risking our portfolio exposure in the medium term,” said Chris O’Shea, CEO of Centrica Group.

The supplier is a leading global energy company, headquartered in the United Kingdom. The company focuses on supplying natural gas, electricity and related services to residential, commercial and industrial customers in several countries.

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