Regional LNG: BP, Kansai Electric sign LNG deal

By Romel S. Gurky

BP Plc and The Kansai Electric Co., Inc. entered Thursday into a sales and purchase agreement for liquefied natural gas (LNG), and a cooperation agreement for the purpose of exploring opportunities for business collaboration.

BP said in a statement that under the agreements, it will provide Kansai Electric with up to 13 million tons of LNG over 23 years, from BP?s diverse portfolio of LNG sources.

In addition, the agreements provide for Kansai Electric and BP to explore areas of cooperation across a wide range of LNG business activities such as LNG trading, and optimization of LNG ship operations.

Editing by Reiner Simanjuntak