MOSCOW (Pakistan Point News / Sputnik - 28th July, 2023) Austrian oil and gas company OMV and British Petroleum (BP) have agreed on the long-term supply of liquefied natural gas (LNG) for 10 years of up to 1 million tonnes per year from 2026, the companies announced on Friday.
"bp and OMV today announced the signing of a long-term sale and purchase agreement (SPA). Covering supply of up to 1 million tonnes of liquefied natural gas (LNG) per year for 10 years from 2026," the companies said in a joint statement.
Under the agreement, BP will supply LNG to OMV through the Gate LNG terminal in the Dutch city of Rotterdam, where OMV has regasification capacity, or through other terminals in Europe, the statement read.
OMV is one of the largest energy companies in Central Europe. It is active in the exploration and production of hydrocarbons in 17 countries, including countries in North Africa, Northwest Europe, the middle East, the Caspian region, Australia and New Zealand.
Founded in 1909, BP is one of the world's six largest oil and gas companies.
