A2A and bp Signed 17-Year LNG Sale and Purchase Agreement

SEATTLE (Oil Monster): Italy-headquartered A2A SpA and leading British multinational oil and gas company bp have signed a 17-year Sale and Purchase Agreement (SPA) for liquefied natural gas (LNG). Under the terms of the agreement, A2A will purchase up to 10 LNG cargoes per year, equivalent to around one billion cubic metres of natural gas, over the period from 2027 to 2044.

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Bp's extensive global portfolio will supply the LNG, which will be delivered either free-on-board or ex-ship. The OLT Offshore LNG Toscana facility in Livorno, Italy, will receive and regasify the LNG for A2A. It should be mentioned that A2A, along with other terminals in Europe, won multi-year regasification capacity at the port through an auction.

According to the deal, the LNG supply should cover about one-fifth of the A2A Group's overall needs.

Gas will continue to be important to the national system's security in the years to come, according to A2A CEO Renato Mazzoncini. The company has been able to diversify its supply mix since the contract was signed. According to him, the corporation wants to help businesses, individuals, and the nation's security and stability while also meeting the energy needs of its end users.