KEPCO of Japan, BP Ink LNG Deal

Japanese utility Kansai Electric Power (KEPCO) said it has signed a long-term deal with BP Singapore to buy about 500,000 tons of LNG per year for a period of 15 years starting in 2017.

The utility said that the LNG price will be linked to gas prices at Henry Hub in the U.S.

KEPCO, the second largest electricity company in Japan, signed in September an LNG deal with Qatargas.

Under the terms of the agreement, Qatargas 3 will deliver 0.5 million tons per annum (MTA) of LNG for a period of 15 years starting from 2013.

[mappress]

LNG World News Staff, November 20, 2012; Image: BP