[ad_1]
Revealed by Jessica Casey,
Deputy Editor
LNG Business,
bp and OMV have introduced the signing of a long-term sale and buy settlement (SPA), protecting provide of as much as 1 million tpy of LNG for 10 years from 2026.
Beneath the phrases of the settlement, bp will present OMV with LNG from its various and world portfolio of LNG, which will likely be obtained and regasified via the Gate LNG Terminal in Rotterdam, the Netherlands, the place OMV holds regasification capability, or different terminals in Europe.
Alfred Stern, Chairman of the Government Board and CEO of OMV AG, mentioned: “It’s considered one of OMV’s key priorities to drive ahead our ongoing diversification of provide sources that encompasses gasoline from our personal manufacturing and exterior sources from Norway, in addition to further LNG volumes. In tandem with the current information concerning our further gasoline transport capacities till 2028, our settlement with bp displays our vital contribution to the safety of provide to our clients in Austria and Europe. Our partnership with bp, spanning a 10-year interval from 2026 is a vital strategic step in direction of diversifying and safeguarding our provide sources in the long run.”
Jonty Shepard, VP International LNG Buying and selling & Origination at bp, added: “At bp, we see LNG as a necessary a part of the power transition and important for our personal pivot to turning into an built-in power firm. We’re happy to conclude this LNG SPA with OMV, with whom now we have a longstanding relationship. Europe is a big LNG market and this settlement with OMV additional demonstrates our LNG provide functionality within the area, supporting safety of provide for our European clients.”
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/31072023/bp-and-omv-sign-a-10-year-lng-supply-agreement/
[ad_2]
Source_link
