Gazprom and BP concluded a bargain to supply LNG to the Atlantic basin countries.

The Agreement was signed by Gazprom Marketing & Trading Ltd and BP.

According to the Agreement BP will supply LNG to Gazprom Marketing & Trading Ltd in 2006 and at the start of 2007. Gazprom Marketing & Trading Ltd will sell LNG at the markets of the Atlantic basin countries. Gazprom Marketing & Trading Ltd will determine points of cargo delivery due to market requirements.

The first BP tanker with LNG in the volume of 135000 m3 was loaded to day in the sea port of Point Fortin (Trinidad and Tobago) to go to regasifying terminal in Cove Point, Maryland (USA). Gazprom is the world’s largest gas company may become the leading LNG supplier to the Atlantic basin countries in future. The Agreement signed is the excellent example of successful and mutually beneficial cooperation of our countries. We are striving to find out new possibilities to strengthen our relations in future, - declared Anne Queen, BP Vice-President on gas, LNG and gas condensates.

“The Agreement signed is Gazprom Marketing & Trading Ltd. other step to enlarge LNG contract portfolio. Alliance with BP will enhance further successful development of company policy in LNG market”, - said Alexander Medvedev, Gazprom Management Committee Deputy Head.

Reference:

Gazprom Marketing and Trading Ltd. is the member of Gazprom Group. The Company was established in Great Britain in 1999. Gazprom Marketing and Trading Ltd. signed the Agreement with companies Shell Western BV and BG Group to supply LNG to the American market in August 2005. The first tanker arrived at the regasifying terminal “Cove Point” (state Maryland, USA) on September 2, 2005.

In November 2005 Gazprom Marketing and Trading Ltd. signed the Agreement with companies Gaz de France, MED LNG & GAS and Shell on LNG delivery. Tanker with LNG was sold to the company Shell Western LNG and placed at regasifying terminal ”Cove Point” in the beginning of December, 2005.

In April 2006 Gazprom Marketing and Trading Ltd. made the first LNG delivery to the terminal “Isle of Grain” in Great Britain. LNG was purchased in the company Gaz de France and sold to the company British Petroleum owing capacities at the receiving terminal. The volume of LNG supplies amounted to nearly 140000 m3(about 85 million m3 of natural gas).

BP is one of the largest non-governmental oil and gas producing companies in the world. BP oil reserves exceed 18.3 billion barrels of oil equivalent and 1.4 trillion m3 of natural gas. Basic company activities: oil and gas development and production; oil produce wholesale and retail trade; gas disposal and gas energy; petrochemistry. BP is one of the leaders in LNG world trade.

The Company operates in more than 100 countries. BP daily production volume exceeds 4 million barrels of oil equivalent.