BP and Area 4 partners sign LNG SPA for offshore Mozambique

October 4, 2016

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BP and the Area 4 concession partners, Eni East Africa (EEA), Galp Energia (Galp), Kogas and Empresa Nactional de Hidrocarbonetos (ENH), today entered into a SPA for BP to purchase 100% of the LNG produced by the EEA-operated Coral South Floating LNG facility expected to be installed offshore Mozambique.

The agreement covers the purchase of LNG for over 20 years. The agreement, which has been approved by the government of Mozambique, is conditional on the FID being taken for the project, which is currently expected by the end of 2016. The Coral South Floating LNG facility is expected to have a capacity above 3.3mpta.

BP will use LNG from the contract to help meet its global supply commitments. […]

Commercial details of the agreement were not disclosed.

Edited from press release.