02:16 PM EDT, 03/14/2025 (MT Newswires) -- Petrobras (PBR) is negotiating with US liquefied natural gas suppliers to secure a long-term import deal and move away from buying solely on the spot market, Reuters reported Friday, citing Petrobras director of energy transition and sustainability Mauricio Tolmasquim.

The Brazilian oil company is also exploring increased domestic gas production and talking with Argentina to import gas from the Vaca Muerta shale field through Bolivia, according to the report.

Discussions involve setting a tolling fee for transporting Argentine gas across Bolivia's pipeline network, Reuters said. Price negotiations have progressed since last year and chances have improved on a final deal, which would potentially benefit Bolivia as its own output declines, Tolmasquim reportedly said at the CERAWeek conference in Houston.

Petrobras did not immediately respond to a request for comment from MT Newswires.

Shares of the company were up 5.3% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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