BP signs up for PNG LNG

The joint venture partners of the Papua New Guinea liquefied natural gas (PNG LNG) project have entered into a mid-term LNG sales and purchase agreement with BP Singapore. Under the terms of the agreement, BP will be supplied with around 0.45-million tonnes of LNG a year over an initial three-year period. This will increase to 0.9-million tonnes a year over the subsequent two-year period.