Petrobras has signed a long-term Liquefied Natural Gas (LNG) purchase and sale agreement with Cheniere Marketing, LLC, a U.S. company and subsidiary of Cheniere Energy, Inc. (NYSE: LNG).

The agreement provides for Petrobras to purchase 0.8 million tonnes per annum (mtpa) of LNG for a period of 22 years.

The contracting of long-term volumes reflects Petrobras’ strategy to reduce its exposure to volatility in the LNG spot market, strengthens the risk management of its natural gas portfolio, and increases flexibility and security in meeting its contractual commitments.

Cheniere Energy, Inc. is the leading producer and exporter of LNG in the United States. The company has one of the world’s largest liquefaction portfolios, comprising the Sabine Pass and Corpus Christi terminals in the states of Louisiana and Texas (USA), with a total LNG production capacity currently in operation of approximately 56 mtpa.