Britain´s energy conglomerate BP and Austrian-based OMV today have announced the signing of a long-term sale and purchase agreement (SPA) for the supply of up to 1 million tonnes of liquefied natural gas (LNG) per year for a 10-year period starting 2026. 

OMV informs that BP will supply LNG from their global portfolio of LNG, which then will be supplied and re-gasified through the Gate LNG Terminal in Rotterdam, Netherlands where OMV holds regasification capacity, or alternatively through other LNG terminals in Europe.

“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,” said Alfred Stern, Chairman of the Executive Board and CEO of OMV AG.

“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. 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,” Alfred Stern added.

From his side Jonty Shepard, BP VP Global LNG Trading & Origination commented that “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. 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.”