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BP and OMV sign 10-year LNG supply agreement

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Cyann Fielding

Journalist at Tank Storage Magazine.
A fleet of oil, gas, chemical tankers on the open sea
Credit: AvigatorPhotographer

BP and OMV have 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.

Under the terms of the agreement, BP will provide OMV with LNG from its diverse and global portfolio of LNG. It will be received and re-gasified through the Gate LNG terminal in Rotterdam, the Netherlands.

‘At BP, we see LNG as an essential part of the energy transition and essential for our own pivot to becoming an integrated energy company. We are pleased to conclude this LNG sale-and-purchase agreement with OMV, with whom we have a longstanding relationship,’ says Jonty Shepard, VP global LNG trading and origination, BP.

Alfred Stern, chairman of the executive board and CEO of OMV AG, says: ‘It is one of OMV’s key priorities to drive forward our ongoing diversification of supply sources that encompasses gas from our own production and external sources from Norway, as well as additional LNG volumes. Our partnership with BP, spanning a 10-year period from 2026, is an important strategic step towards diversifying and safeguarding our supply sources in the long-term.’

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