BP, Freeport Strike 20-Year LNG Export Deal

Law360, New York (February 12, 2013, 1:26 PM EST) -- Freeport LNG Expansion LP has secured a 20-year deal with BP Energy Co. to sell the energy giant liquefied natural gas from its Texas import terminal, setting the groundwork for additional financing of the facility's expansion, Freeport announced Monday.

The deal for 4.4 million tons per year of LNG amounts to the second liquefaction train of production capacity for the Freeport facility, which will be tapping into Gulf Coast oil reserves and expanding an existing import terminal to accommodate exports. Financial details of the deal were...
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