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BP signs LNG supply contract with Sempra

JAKARTA - BP Plc, an oil and gas production contractor in Indonesia, has signed a contract with US company Sempra Energy LNG Corp, for the supply of liquefied natural gas (LNG).

Under the 20-year contract, BP will supply an LNG receiving terminal in Sempra, Mexico, with 3.7 million tons of LNG annually from its Tangguh gas field in Papua.

The contract, BP Plc's first long-term contract with a buyer in America, was signed in San Diego on Monday, the Oil and Gas Executive Board (BP Migas) said on Tuesday.

The first shipment from Tangguh will be made in 2008.

Indonesia has also succeeded in signing a similar contract with a buyer in China for gas supply from Tangguh.

The Tangguh LNG plant, currently under construction, is jointly owned by BP and China's CNOOC Ltd, with a 16.96% stake. In addition, MI Berau BV (INPEX Corporation) holds 16.3%, Nippon Oil Exploration Berau, 12.23%, and KG Companies (Kanematsu Corporation and Overseas Petroleum Corporation) along with LNG Japan Corporation holds 7.35%.

(Asia Pulse/Antara)

Oct 14, 2004

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