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BP to purchase 100% of LNG produced by Coral South FLNG unit

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LNG Industry,

BP has announced that it has entered a sales and purchase agreement (SPA) with the Area 4 concession partners to purchase 100% of LNG produced by the Coral South floating LNG (FLNG) facility, which is expected to be located offshore Mozambique.

The partners include Eni East Africa (EEA), Galp Energia, Kogas and Empresa Nactional de Hidrocarbonetos (ENH). The commercial details of the agreement have not been disclosed.

The agreement has been approved by the government of Mozambique and covers the purchase of LNG for more than 20 years. It is conditional on a positive final investment decision (FID), which is expected by the end of 2016. It is expected that the facility will have a capacity of over 3.3 million tpy.

The Chief Executive of BP’s supply and trading business, Paul Reed, said: “BP is pleased to play a key role in enabling Mozambique to be an LNG exporting country. The agreement adds to the diversity of our natural gas portfolio beyond the end of the decade, further enhancing our ability to meet the needs of our customers.”

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