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Sempra Signs 20-Year LNG Supply Deal With Petrobras

Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), signed a 20-year agreement to supply Petrobras with approximately 0.8 million tonnes per annum of liquefied natural gas. The LNG will come from Sempra’s Port Arthur LNG Phase 2 project in Texas.

The agreement brings Petrobras into Sempra Infrastructure’s customer portfolio as its first South American customer, strengthening the company’s position as a long-term supplier of U.S. natural gas to international markets.

Port Arthur LNG Phase 2, currently under construction, will add two liquefaction trains with approximately 13 Mtpa of capacity, potentially doubling the overall facility’s capacity to about 26 Mtpa. Phase 2 is expected to begin commercial operations in 2030 and 2031.

The long-term Petrobras contract provides additional commercial support for Sempra’s LNG expansion strategy while increasing its exposure to growing demand for U.S. natural gas across international markets.
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Author
The Investor 09-15-26
Petrobras announced the completion of financial settlements related to the redetermination of the Tupi Shared Reservoir in Brazil’s Santos Basin.

Following an updated production agreement, Petrobras’ stake in the reservoir increased slightly to 67.457% from 67.216%. As part of the settlement, the company received approximately R$3 billion from partners Shell Brasil Petróleo and Petrogal Brasil, while paying around R$600 million to the federal government, represented by Pré-Sal Petróleo.

The adjustments reflect updated calculations of production volumes and associated revenues and costs up to December 2025, aligning ownership shares across the consortium.

Petrobras said the amounts were already recognized in its fourth-quarter 2025 financial statements, and the settlement finalizes the first revision of participation in the major offshore oil field.
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Author
WS Investor 04-03-26
Petrobras announced a new gas discovery at the Copoazu-1 exploratory well in Block GUA-OFF-0, located in deep waters offshore Colombia.

The discovery strengthens the region’s gas potential and supports energy security, with the well situated about 36 km from the coast and near previous Sirius-1 and Sirius-2 discoveries. Gas-bearing intervals were confirmed through logging and fluid sampling, including an additional objective beyond the main target, increasing the significance of the find.

Petrobras operates the block with a 44.44% stake through its subsidiary, alongside Ecopetrol, which holds 55.56%. The discovery aligns with Petrobras’ strategy to expand reserves through new exploration frontiers and partnerships during the energy transition.
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Author
The Investor 03-20-26
Petróleo Brasileiro S.A. – Petrobras reported an increase in proved oil, condensate, and natural gas reserves in 2025, underscoring the strength of its upstream portfolio despite record production during the year.

As of December 31, 2025, proved reserves under SEC standards totaled 12.1 billion barrels of oil equivalent, with oil and condensate representing 84% and natural gas 16%. During 2025, Petrobras added 1.7 billion boe of reserves, resulting in a reserve replacement rate of 175% even after a record annual production. The proved reserves-to-production ratio stood at 12.5 years.

Reserve additions were mainly driven by strong asset performance in the Santos Basin, particularly at the Búzios, Tupi, Itapu, and Mero fields, alongside progress in the Budião, Budião Noroeste, and Budião Sudeste developments in the Sergipe-Alagoas Basin. New wells in Búzios, Tupi, Marlim Sul, and Jubarte fields in the Santos and Campos basins also contributed. The company noted that reserve estimates were resilient, with no material impact from oil price variations.

Petrobras emphasized the need for continued investment in improving recovery factors of existing fields, exploring new frontiers, and diversifying its exploration portfolio in Brazil and abroad to sustain reserve replacement. More than 90% of proved reserves were independently evaluated by DeGolyer and MacNaughton. Under ANP/SPE criteria, proved reserves reached 12.5 billion boe, reflecting differences in economic assumptions and concession-term treatment compared with SEC rules.

Source: Petrobras Investor Relations
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Author
European Investor 01-29-26