BP and OMV have announced a long-term sale and purchase agreement for the supply of up to 1 million tonnes of liquefied natural gas per year for a period of 10 years starting from 2026. The agreement will see BP providing OMV with LNG from its diverse global portfolio, which will be received and re-gasified through the Gate LNG terminal in Rotterdam, Netherlands, or other terminals in Europe.
The deal is seen as a strategic step for both companies. For OMV, it aligns with its ongoing efforts to diversify its supply sources, including gas from its own production and external sources like LNG. This diversification is aimed at ensuring the security of gas supply to its customers in Austria and Europe.
For BP, the agreement reinforces its view of LNG as an essential part of the energy transition and its own transformation into an integrated energy company. It also highlights the company’s LNG supply capability in the European market, supporting the security of supply for its European customers.
Overall, the agreement reflects the long-standing relationship between BP and OMV and their shared commitment to the energy transition and the security of gas supply in Europe.
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