BP and Kansai Electric Co. Inc. have entered into a sales and purchase agreement (SPA) for LNG, as well as a cooperation agreement for potential business collaboration.
BP will provide Kansai Electric with up to 13 million t of LNG over a period of 23 years. The two companies will also explore areas of cooperation across a wide range of LNG business activities, including LNG trading and optimisation of ship operations.
Commenting on the new partnership, Paul Reed, CEO of BP Integrated Supply and Trading, said: “BP highly appreciates the long-term relationship with Kansai Electric that has resulted in the conclusion of these new LNG sales and cooperation agreements.
“Building on a separate LNG sale and purchase agreement signed in 2013, this new LNG deal entails additional supply from BP’s portfolio. We are very pleased that Kansai Electric and BP have agreed this expanded LNG business and we look forward to working together to explore areas of further cooperation.”
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/28052015/bp-in-spa-with-kansai-electric-833/