Green Network Energy, the British subsidiary of the Green Network Group, and BP Gas Marketing Limited have signed an exclusive collaboration agreement governing the U.K. market. BP plc, formerly British Petroleum, is a British oil and gas multinational operating in the field of energy. BP is one of the world’s seven oil and gas "supermajors", a vertically integrated enterprise, operating in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation, trading and renewable energy. BP is present in over 70 countries, it produces about 3.3 million barrels of oil equivalent per day and owns proved reserves of 17.180 million barrels of oil equivalent.
In virtue of the understanding, BP Gas Marketing Limited will supply gas and power to Green Network Energy destined for its end users in the UK. Likewise, Green Network Energy shall undertake to purchase these products for the market only from BP Gas Marketing Limited. In such manner, Green Network Energy is guaranteed access to procurement of gas and power at competitive rates, supplied by one of the leading market companies. The contract will expire on 31 December 2019 and envisages a possibility of an extension.
Sabrina Corbo, at the helm of Green Network Energy and Executive Vice President of the Group, said: "The pact is a significant step ahead and a big opportunity regarding Green Network’s entry into Great Britain, the first Italian operator in the U.K. power and gas market. We are very proud about the acknowledgement of our seriousness and professionalism on the part of a big international player like BP. This represents another step forward towards the creation of an Italian multinational in the energy field".