Spain’s Iberdrola has struck a 10-year supply deal with BP to bring in 500 million cubic metres per annum of LNG. The supermajor will deliver six cargoes per year to Spanish import terminals beginning in 2012.
The Spanish company said the agreement will allow it to optimise its supply portfolio as domestic demand declines and the Gate LNG terminal prepares to open in Rotterdam, where it is set to deliver 1 Bcma to capacity-holder Dong Energy.
Iberdrola
