12/29/2016, 1:26 PM (Source: TeleTrader)
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BP signs sales-purchase LNG deal with PTT

BP plc. announced it signed an agreement with PTT plc. for the sales and purchase of liquefied natural gas (LNG), the company’s statement said on Thursday. According to the announcement, the deal will last 20 years and BP will begin the supply of natural gas in 2017.

The gas will be partially sourced from the Freeport LNG Project, located in Texas, United States. BP has a tolling limit of over 4.4 metric tons per annum in its Texas location. The commercial terms of the deal were not disclosed by the companies.

“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,” said CEO of BP Integrated Supply and Trading Paul Reed.

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