Tuesday 10 January 2017

BP inks LNG deal with Thai oil and gas firm

BP inks LNG deal with Thai oil and gas firm

BP has signed a deal to supply liquefied natural gas (LNG) to a Thai state-owned oil and gas company.

Under the agreement, the British energy giant will provide PTT with around one million tonnes of LNG annually for 20 years.

Supply with start this year and will be sourced from BP’s diverse portfolio of LNG, including the Freeport project in the US, which is currently under construction with production expected to begin in 2018.

Paul Reed, Chief Executive of BP Integrated Supply and Trading, said: “BP is pleased to conclude this LNG sale and purchase agreement with PTT, with whom we have a longstanding relationship. Thailand has become a significant LNG market and this agreement with PTT further demonstrates our LNG supply capability in the region.”

Last month BP announced it bought stakes in two North Sea exploration projects and a giant offshore gas field in Egypt.

Written by

Bruna Pinhoni

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