Kosmos Energy signs largest LNG supply contract with BP Plc in 2020

GlobalData Energy 21 December 2020 (Last Updated December 21st, 2020 15:00)

The biggest long-term LNG (liquefied natural gas) contract signed in 2020 was between Kosmos Energy Ltd., and BP plc on February 12, 2020. According to the contract, Kosmos Energy Ltd. will supply 2.5 million tonnes per annum (mtpa) of LNG for a period of seven years, from 2023 to 2030, to BP plc. The LNG will be supplied from the Tortue Floating I liquefaction terminal in Mauritania.

Kosmos Energy signs largest LNG supply contract with BP Plc in 2020
Credit: Shutterstock.com.

The biggest long-term LNG (liquefied natural gas) contract signed in 2020 was between Kosmos Energy Ltd., and BP plc on February 12, 2020. According to the contract, Kosmos Energy Ltd. will supply 2.5 million tonnes per annum (mtpa) of LNG for a period of seven years, from 2023 to 2030, to BP plc. The LNG will be supplied from the Tortue Floating I liquefaction terminal in Mauritania.

Among regions, in 2020, around four LNG contracts were signed for the export of LNG from Africa. North America has signed about three long-term LNG contracts. The biggest contract was between Energia Costa Azul Sde RL de CV and Total SA – and the remaining contract was signed from the Middle East Country-wise, Nigeria leads in terms of LNG export contract volumes signed in 2020 with 4.0 mtpa, followed by Mexico and Mauritania with 2.5 mtpa Nigeria LNG Limited had the highest LNG contract volumes among seller companies in 2020 with 4 mtpa or 47 percent of the total volumes. Energia Costa Azul followed with 2.5 mtpa or 29 percent of the total volumes. Qatargas Operating Company and Venture. Global LNG was third with a contracted capacity of 1 mtpa each or 12 percent of the total volumes.

Figure: LNG Contracted Capacity and Share Signed by Key Seller Companies in 2020 vis-à-vis 2019

With respect to purchaser companies, Total SA led the long-term LNG contracted capacity among buyers in 2020 with 38 percent share or 3.2 mtpa. BP Plc followed with a share of 29 percent or 2.5 mtpa. Eni Spa also had an 18 percent share or 1.5 mtpa of the total LNG contracted capacity in the year.