The Abu Dhabi Gas Liquefaction Company (ADGAS) has reached an agreement with British Petroleum (BP) for the sale and purchase of up to 750,000 tons per year of liquefied natural gas (LNG) for a four-year period.
LNG shipments will be delivered on an free on board (FOB) basis to markets in Spain using BP shipping capacity which will include BP's new LNG vessel British Innovator due to be launched in March 2003.
BP is one of the world's largest energy companies with major global gas interests and significant LNG activities in Trinidad and Tobago, Abu Dhabi, Australia and Indonesia. BP has gas customers in 26 countries around the world.
ADGAS is 70 percent owned by the Abu Dhabi National Oil Company, 15 percent by Mitsui, 10 percent by BP and five percent by TotalFinaElf. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
