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BP PLC on Friday said it has signed a long-term sale and purchase agreement with OMV Group, a Vienna-based oil and gas company. The oil major said that agreement will cover the supply of up to 1 million tonnes of liquefied natural gas per year for 10 years from 2026. Under the terms of the agreement, BP will provide OMV with LNG, which will be received and re-gasified through the Gate LNG terminal in Rotterdam, the Netherlands, where OMV holds regasification capacity, or other terminals in Europe. Jonty Shepard, vice president of global LNG trading & origination at BP, said: ‘At BP, we see LNG as an essential part of the energy transition and essential for our own pivot to becoming an integrated energy company. We are pleased to conclude this LNG sale-and-purchase agreement with OMV, with whom we have a longstanding relationship. Europe is a significant LNG market and this agreement with OMV further demonstrates our LNG supply capability in the region, supporting security of supply for our European customers.’ BP shares were 0.7% lower at 476.40 pence each on Friday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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