By Jeffrey T. Lewis
Petróleo Brasileiro said Monday it signed a contract with Companhia de Gás de Pernambuco, or Copergás, to supply the company with natural gas from 2024 through 2034.
The contract has an estimated value of 6.7 billion reais, the equivalent of $1.4 billion, according to Petrobras. Copergás supplies natural gas to consumers in the Brazilian state of Pernambuco.
The contract strengthens the partnership between the two companies and will maintain safety standards as the natural gas supply market is opened to greater competition, Petrobras said.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
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