22 July 12 10:38–Trade magazine “LNG Unlimited” reports that BP plc (LSE; NYSE: BP) is set to win Israel Electric Corporation’s (IEC) (TASE: ELEC.B22) liquefied natural gas (LNG) purchase tender, beating Russia’s Gazprom (RTS: OGZD; LSE; GAZP; DAX: GAZ), and Italy’s ENI SpA (BIT: ENI; NYSE: E). The price of the LNG was not specified.
Under terms of the tender, BP will begin LNG deliveries on December 1 for six months, making two deliveries a month, amounting to a total of 0.15 billion billion cubic meters of natural gas. BP has an option to make six more deliveries.
Each delivery will total 130,000 cubic meters of gas, which BP will load in Cyprus onto a floating storage and regasification vessel (FSRU) owned by Excelerate Energy Inc. of the US, which will berth at the floating LNG buoy in Israel…Read More>>