BP and Kansai Electric sign LNG sale, cooperation agreementsStaff writer ▼ | May 29, 2015
BP and The Kansai Electric entered into a sales and purchase agreement for liquefied natural gas (LNG), and a cooperation agreement for the purpose of exploring opportunities for business collaboration.
Energy business BP will provide Kansai Electric with LNG
Paul Reed, Chief Executive of BP Integrated Supply and Trading, said: “BP highly appreciates the long-term relationship with Kansai Electric that has resulted in the conclusion of these new LNG sales and co-operation agreements.
"Building on a separate LNG sale and purchase agreement signed in 2013, this new LNG deal entails additional supply from BP’s portfolio. We are very pleased that Kansai Electric and BP have agreed this expanded LNG business and we look forward to working together to explore areas of further cooperation.”
The Kansai Electric Power is Japan’s second largest electric utility, with 13 million customers and 22,000 employees. It was established in 1951. ■