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.”