Petrobras is currently in talks with US LNG suppliers to tie up a long-term import deal. "We continue to import on the spot market, but we are going to the long-term market," Petrobras' Director of Energy Transition and Sustainability, Mauricio Tolmasquim, told Reuters in an interview at last week’s CERAWeek Houston conference.
The giant oil and gas company signed Brazil's first long-term LNG supply agreement last month when it agreed to purchase 800,000 tonnes per year of LNG from UK energy supplier Centrica for 15 years, starting in 2027.
This deal would provide reliable supplies compared with purchases on the spot market, the company said.
Brazil also is seeking to increase its own production and is negotiating prices to import from Argentina through gas pipelines that pass through Bolivia.
Brazil is Latin America's largest oil producer, but consumes more gas than it produces and relies on gas and LNG imports to meet domestic demand.
Separately, Petrobras said that the Brazilian government has put forward Pietro Mendes to serve another term as Chairman. Shareholders will choose the new board at a meeting on 16th April.
In addition, Colombia's hydrocarbons regulator said last Thursday that Petrobras and Colombia’s Ecopetrol, could obtain the environmental and social licenses needed for moving forward with a joint offshore gas project in Colombia by mid-2026.
