BP will sell about 1 million tonnes of liquefied natural gas annually to Thailand's PTT Public Company Limited for 20 years, announced BP on Thursday.
LNG supply will begin in 2017 and will be sourced from BP's diverse portfolio of LNG, including the Freeport LNG Project in the U.S., said BP.
"Thailand has become a significant LNG market and this agreement with PTT further demonstrates our LNG supply capability in the region," Paul Reed, Chief Executive of BP Integrated Supply and Trading, was quoted as saying.
The commercial terms of the agreement were not announced in the statement.
PTT Public Company Limited is listed on the Thai Stock Exchange, whose core businesses concern petroleum, petrochemicals, power generation and coal.
BP is active in many of the major LNG producing regions as well as in the main LNG markets and has activities in Australia, UAE, Indonesia, Egypt, Trinidad and Angola.
By Huseyin Erdogan
Anadolu Agency
huseyin.erdogan@aa.com.tr