BP, one of the world’s leading producers and traders of liquefied natural gas (LNG), is the first major oil and gas business to publish its LNG Master Sale and Purchase Agreement template for Delivered Ex-Ship transactions (the “BP DES LNG MSA”). The BP DES LNG MSA allows either party to buy or sell physical LNG cargoes on a Delivered Ex-Ship basis. As BP operates an established LNG portfolio, both buying and selling LNG, the BP DES LNG MSA has been developed over many years to be balanced and fair between buyers and sellers. BP expects that its publication will contribute to the broader discussion around standardization and liquidity for LNG transactions. The BP DES LNG MSA has also been refined over time to reflect current industry standards. As with BP’s General Terms & Conditions for Sales and Purchases of Crude Oil and Petroleum Products (GT&Cs), the BP DES LNG MSA will continue to evolve with developments in the LNG industry.