BP signs natural gas export deal with Freeport LNG

02/11/2013 | Bloomberg Businessweek

BP has struck a deal to export 4.4 million tons of liquefied natural gas annually from Freeport LNG's Texas terminal for 20 years. The agreement will begin when the terminal's second production unit is finished. "With the first two liquefaction trains of the project fully contracted, we intend to approach the financing markets imminently so that we can begin construction on the initial two-train facility as soon as we receive Federal Energy Regulatory Commission approval," said Michael Smith, chairman and CEO of Freeport LNG.

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