A new agreement was announced today between BP and Gazprom Marketing and Trading, the UK subsidiary of energy giant OAO Gazprom. BP will supply a number of liquefied natural gas (LNG) cargoes, whilst Gazprom Marketing and Trading will market them in the Atlantic Basin.

The cargoes will be supplied over the period of 2006 and early 2007, and will be transported to delivery points set in accordance with Gazprom’s marketing needs.

Today the first cargo was loaded up at Trinidad and Tobago and will be shipped to Cove Point, Maryland in the US.

In a statement, Anne Quinn, BP’s group vice president for gas, LNG and natural gas said: “We are pleased to be working with Gazprom in the area of LNG. As the world's largest gas company, Gazprom is potentially also a major supplier of LNG to the Atlantic Basin”.

Alexander Medyedey, the Deputy Chairman of Gazprom said in the statement: “We are pleased with this agreement with such a strong and well regarded partner as BP.”