By Mauro OrruBritish oil-and-gas major BP signed a long-term sale and purchase agreement with Austria's OMV for the supply of liquefied natural gas. The Austrian oil-and-gas company said Friday that the 10-year agreement covers the supply of up to 1 million metric tons of liquefied natural gas a year starting in 2026. BP will supply the gas, which will be regasified in the Netherlands, where OMV has regasification capacity, or other terminals in Europe. Meanwhile, OMV unveiled what it called the largest natural gas discovery in Austria in 40 years at the Wittau Tief-2a exploration well. OMV expects its natural gas production in Austria to increase by 50% after full development of the site.

Source: Wall Street Journal July 28, 2023 12:53 UTC