The LNG will be delivered by Brass and used by BP to supply multiple markets in the Atlantic basin. Under an innovative flexible contractual arrangement, it will be primarily targeted at the growth markets of the UK and the US but may also be supplied to other existing LNG markets and a number of proposed new terminals which BP and its partners are seeking to develop in New Jersey and Texas, in the US, and at Rosignano in Italy.
Anne Quinn, BP's group vice president, Gas, Power and Renewables, said: "BP is delighted to have reached this understanding with Brass LNG which reflects the attractiveness of our LNG market positions to suppliers. It will enable us to add to our already robust portfolio of both equity and third party LNG supplies, develop our merchant LNG business further and have greater scope and flexibility to respond to market demand. We look forward to working with Brass LNG and to a long-term, productive relationship."
The new LNG supply will complement BP's equity LNG from Trinidad, Australia, Indonesia and Abu Dhabi, which will make up the majority of its portfolio, together with LNG from Egypt and third party purchase agreements with Oman and Qatar.
BP is one of the world's largest suppliers of LNG, measured by gas into LNG plant. The company is the largest shareholder in the Atlantic LNG plant in Trinidad and has interests in LNG producing plants in Australia (North West Shelf) and Abu Dhabi (Adgas). BP is an existing gas supplier to Indonesia's Bontang LNG plant and, together with its partners, is developing the major new Tangguh LNG production facility in Indonesia which has already concluded contracts to export LNG to China, Korea and the west coast of North America, the first long-term trans-Pacific LNG contract.
BP also has LNG purchase agreements with LNG suppliers in Egypt, Oman and Qatar and supply agreements with companies in Korea, the Dominican Republic, Japan and the US.
Most Popular Articles
From the Career Center
Jobs that may interest you