BP, PTT sign LNG sale and purchase agreement
12/29/2016
BP and PTT Public Limited Company entered into a sales and purchase agreement for liquefied natural gas (LNG).
Under the agreement, BP will provide PTT with approximately 1 MMt of LNG per year. The term of the agreement is 20 years. LNG supply will commence in 2017 and will be sourced from BP’s diverse portfolio of LNG, including the Freeport LNG Project in the USA.
“BP is pleased to conclude this LNG sale and purchase agreement with PTT, with whom we have a longstanding relationship,” said Paul Reed, Chief Executive of BP Integrated Supply and Trading. “Thailand has become a significant LNG market and this agreement with PTT further demonstrates our LNG supply capability in the region.”
Commercial terms of the agreement were not disclosed.
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