BP to supply LNG to Austria's OMV
BP has signed an agreement with Australia’s OMV to supply 1mn tonnes/year of LNG for 10 years starting from 2026, it said on July 28.
As part of the agreement, BP will provide OMV with LNG from its diverse global portfolio of LNG sources. OMV will receive and re-gasify the LNG at the Gate LNG terminal in Rotterdam, where it holds regasification capacity, or other terminals in Europe.
OMV aims to diversify its supply sources, including gas from its own production and external sources, such as additional LNG volumes.
“In tandem with the recent news regarding our additional gas transport capacities until 2028, our agreement with BP reflects our significant contribution to the security of supply to our customers in Austria and Europe,” Alfred Stern, CEO of OMV AG, said.
“Europe is a significant LNG market and this agreement with OMV further demonstrates our LNG supply capability in the region, supporting security of supply for our European customers,” Jonty Shepard, VP global LNG trading & origination at BP, said.
BP recently agreed to acquire 2bn m3/year of regasification and corresponding storage capacity at the Gate terminal, a joint venture of Vopak and Gasunie.