BP and Japanese utility Kansai Electric have struck a sales and purchase agreement for liquefied natural gas (LNG) on Thursday.

BP and Kansai strike LNG deal

Japan

TOKYO, May 28, 2015 – BP and Japanese utility Kansai Electric have struck a sales and purchase agreement for liquefied natural gas (LNG) on Thursday. This agreement also includes room for further business opportunities for the companies to collaborate.

According to the agreement, BP will provide Kansai Electric with as much as 13 million tonnes of LNG over a 23-year period. The two companies will also explore additional areas for business collaboration such as LNG trading and optimising LNG ship operations.

“We are very pleased that Kansai Electric and BP have agreed this expanded LNG business and we look forward to working together to explore areas of further cooperation” Chief Executive of BP Integrated Supply and Trading said in a press release Thursday.

Kansai Electric is the second largest utility in Japan with 13 million customers and 22,000 employees.