Cheniere Signs 22-Year LNG Supply Deal with Petrobras for 0.8 mtpa
LNG sits 43% above its 52-week low of $186.2.
Summary
Cheniere Marketing has signed a 22-year LNG sale and purchase agreement with Petrobras for approximately 0.8 million tonnes per annum on a free-on-board basis. This is a new, long-term contract that adds fixed fee cash flow visibility and supports future brownfield liquefaction capacity growth. The deal reinforces Cheniere's position as a leading global LNG provider and provides commercial support for expansion. No financial terms were disclosed, but the multi-decade commitment from a major energy company is a positive demand signal. This follows recent FERC approvals for Corpus Christi Train 7 and strong Q2 results.
At the time of this announcement, LNG was trading at $266.75 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $55.7B. The 52-week trading range was $186.20 to $300.89. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.