IBERDROLA UNLOADS FIRST METHANE TANKER OF THE LONG-TERM CONTRACT WITH BP AT BILBAO REGASIFICATION TERMINAL
- The agreement between the companies includes the delivery of 0.5bcm a year for the next 10 years
- The next delivery (of gas from Nigeria) is due at the Huelva regasification
- IBERDROLA has long-term gas supply agreements in Algeria, Nigeria and Norway, with companies such as Sonatrach, Nigeria LNG and Statoil
IBERDROLA has unloaded its first cargo of liquefied natural gas (LNG) that it has sold to BP, at the Bilbao regasification terminal. The gas was sold as part of the agreement signed between the two parties in May last year.
The methane tanker, Artic Lady, arriving from the Snohvit liquefaction plant in Noray, has unloaded 900 million kWh of natural gas, the first delivery under the contract signed between IBERDROLA and BP for an annual volume of 0.5bcm (billions of cubic metres) of natural gas for 10 years.
The next delivery (of gas from Nigeria) is due at the terminal in Huelva. Through this operation, the company continues to further the possibilities of optimising its gas supply portfolio, against the fall in consumption in Spain.
IBERDROLA will supply the gas for this contract from its long-term holdings. The company has various LNG agreements in place with companies like Sonatrach (Algeria), Nigeria LNG (Nigeria) and Statoil (Norway).
This diverse and flexible portfolio allowed IBERDROLA to close another important gas supply contract in 2010 with the Danish company, Dong. IBERDROLA will deliver 1 bcm a year of LNG to the regasification plant in Rotterdam for at least a decade.
IBERDROLA also imports gas into the United Kingdom via a reserved capacity facility at the Isle of Grain, near London, linking up with its subsidiary ScottishPower at the UK gas trading centre, the NBP (National Balancing Point).
IBERDROLA also contributes to the safety of supply of gas in the European Union through its 20% stake in the international Medgaz pipeline between Algeria and Spain.
BP is one of the world's leading petroleum and gas companies with activities at all levels of the hydrocarbon chain, from exploration and production to sales to final clients.
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