LON:BP

Market Chatter: Korea Gas Signs 10-Year LNG Purchase Agreement with British Oil & Gas Firm BP

Korea Gas (KRX:036460) signed a 10-year contract with British oil and gas company BP plc (LON:BP) to purchase 700,000 tons of liquefied natural gas (LNG) on an annual basis, beginning in 2028, Yonhap News reported Friday.The agreement follows a separate agreement signed by Korea Gas last year to import 3.3 million tons of LNG annually from the US beginning in 2028, the report said.Korea Gas said the latest contract will help diversify energy supply sources and stabilize gas prices amid prolonged Middle East tensions, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)