Regional: Chubu Electric signs a 16 year LNG sales deal with BP

By Romel S. Gurky

Chubu Electric Power Co., Inc. said it had today executed a fully termed LNG sales and purchase agreement with BP Singapore Pte Limited.

This agreement is for Chubu Electric to purchase LNG supplied from BP's global LNG portfolio by BP Singapore Pte Limited.

Under the deal, Chubu Electric will purchase approximately eight million tons over 16 years commencing from 2012, on a DES basis.

Chubu Electric believes that this LNG supply from a variety of BP's portfolio sources will contribute to the procurement of stable and flexible LNG supply.

Editing by Roffie Kurniawan