Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Natural Gas

Tepco signs 17-year deal with BP Singapore to buy up to 1.2 million mt/year of LNG

Agriculture | Biofuels | Grains | Energy | LNG | Natural Gas | Oil | Crude Oil | Metals | Steel | Shipping | Marine Fuels | Tankers

Market Movers Asia, Oct 14-18: US-China's partial trade deal, Mideast oil risks in focus

LNG | Natural Gas | NGL

Platts LNG Alert

Capital Markets | Commodities | Energy | LNG | Natural Gas | Natural Gas (European) | Natural Gas (North American) | Natural Gas Risk | Shipping | Leveraged Finance & High Yield | Materials | Building & Construction | Financial Services | Banking | Infrastructure | Structured Finance

LNG Conference, 19th Annual

LNG | Natural Gas

Total to acquire 37% in India's Adani Gas, sets up gas marketing JV

Tepco signs 17-year deal with BP Singapore to buy up to 1.2 million mt/year of LNG


Japanese utility Tokyo Electric Power Company said Friday, September 12, it has signed its first portfolio long-term contract to buy up to 1.2 million mt/year of lean LNG from BP Singapore for 17 years starting April 2017.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The contract uses Henry Hub-linked gas prices for indexation, which should help Tepco procure lean LNG at competitive prices, the company said.

"The agreement will enable Tepco's steady purchase of LNG through diversification since BPS will provide LNG from various supply areas," Tepco said in a statement.

Tepco in 2012 set a goal of raising its lean LNG purchases to 10 million mt/year within 10 years, to almost half the total volume of its annual LNG purchases.

This latest deal brings its current lean LNG contracted volumes to 2 million mt/year, Tepco said.

BP in 2013 signed an agreement to lift 4.4 million mt/year from train 2 of the Freeport LNG export project on the US Gulf Coast.

Volumes from the US terminal are expected to begin delivery in 2019.

BP Singapore, an affiliate of BP, has a sales and purchase agreement with Japan's Chubu Electric, signed in 2012, to supply around 8 million mt of LNG over 16 years on an ex-ship delivery basis.

Japan's Kansai Electric in 2012 signed a "key terms agreement" to buy around 500,000 mt/year of LNG from BP Singapore for 15 years from fiscal 2017-18 at Henry Hub-linked gas prices.

Lean LNG is predominantly methane with small quantities of ethane and has a very low High Heating Value.

--Eriko Amaha,
--Edited by Wendy Wells,