BP Plc and OMV AG have signed a long-term LNG purchase and sale agreement (PSA) starting in 2026, according to a July 28 BP press release.
The PSA covers supply of up to 1 million tonnes of LNG per year for each of the 10 years of the deal. BP will provide OMV with the LNG, which will be received and re-gasified through the Gate LNG terminal in Rotterdam, The Netherlands. The LNG could also be received at other terminals in Europe.
“It is one of OMV’s key priorities to drive forward our ongoing diversification of supply sources that encompasses gas from our own production and external sources from Norway, as well as additional LNG volumes,” Alfred Stern said, chairman of the executive board and CEO of OMV AG. “In tandem with the recent news regarding our additional gas transport capacities until 2028, our agreement with BP reflects our significant contribution to the security of supply to our customers in Austria and Europe.”
Recommended Reading
Energy Transfer Asks FERC to Weigh in on Williams Gas Project
2024-04-08 - Energy Transfer's filing continues the dispute over Williams’ development of the Louisiana Energy Gateway.
Apollo Buys Out New Fortress Energy’s 20% Stake in LNG Firm Energos
2024-02-15 - New Fortress Energy will sell its 20% stake in Energos Infrastructure, created by the company and Apollo, but maintain charters with LNG vessels.
Williams CEO: Louisiana Energy Gateway Start Temporarily in Limbo
2024-03-21 - Williams CEO Alan Armstrong said the project still moving forward after hitting a snag in a dispute with Energy Transfer but lacks a definitive start date.
Canada’s First FLNG Project Gets Underway
2024-04-12 - Black & Veatch and Samsung Heavy Industries have been given notice to proceed with a floating LNG facility near Kitimat, British Columbia, Canada.
Venture Global Acquires Nine LNG-powered Vessels
2024-03-18 - Venture Global plans to deliver the vessels, which are currently under construction in South Korea, starting later this year.