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  • BP and Area 4 partners sign LNG sale and purchase agreement for offshore Mozambique
    édité le 05/10/2016 - Plus de news de "BP" - Voir la fiche entreprise de "BP"


BP and Area 4 partners sign LNG sale and purchase agreement for offshore Mozambique
BP and the Area 4 concession partners, Eni East Africa (EEA), Galp Energia (Galp), Kogas and Empresa Nactional de Hidrocarbonetos (ENH), entered into a sales and purchase agreement for BP to purchase 100% of the liquefied natural gas (LNG) produced by the EEA-operated Coral South Floating LNG facility expected to be installed offshore Mozambique.

The agreement covers the purchase of LNG for over 20 years. The agreement, which has been approved by the government of Mozambique, is conditional on the Final Investment Decision (FID) being taken for the project, which is currently expected by the end of 2016. The Coral South Floating LNG facility is expected to have a capacity above 3.3 million tonnes per annum.

BP will use LNG from the contract to help meet its global supply commitments.

Paul Reed, chief executive of BP’s supply and trading business, 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.”

Commercial details of the agreement were not disclosed.

Notes:
- BP is active in many of the major LNG producing regions as well as in the main LNG markets. It is involved in LNG projects in Australia, UAE, Indonesia, Egypt, Trinidad and Angola.
- Eni is the operator of Area 4 with a 50% indirect interest, owned through EEA, which holds a 70% stake of Area 4.
EEA’s partners in Area 4 are Galp, Kogas and ENH with a 10% stake each.
- CNPC owns a 20% indirect interest in Area 4 through EEA.

About BP

BP (NYSE:BP) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.


Origine : Communiqué BP

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