BP AND PTT PUBLIC SIGN LNG CONTRACT

BP and PTT Public Limited Company (PTT) entered into a sales and purchase agreement for liquefied natural gas (LNG). Under the agreement, BP will provide PTT with approximately 1 million tonnes of LNG per annum. The term of the agreement is 20 years. LNG supply will commence in 2017 and will be sourced from BP’s diverse portfolio of LNG, including the Freeport LNG Project in the USA. Paul Reed, Chief Executive of BP Integrated Supply and Trading, said: “BP is pleased to conclude this LNG sale and purchase agreement with PTT, with whom we have a longstanding relationship. Thailand has become a significant LNG market and this agreement with PTT further demonstrates our LNG supply capability in the region.”
Based in Bangkok, PTT Public Company Limited is a Thai state-owned oil and gas company. Formerly known as the Petroleum Authority of Thailand, it owns extensive submarine gas pipelines in the Gulf of Thailand, a network of LPG terminals throughout the kingdom, and is involved in electricity generation, petrochemical products, oil and gas exploration and production, and gasoline retailing businesses. (Source: BP)