BP inks LNG supply deal with China’s Shenzhen Gas

China’s Shenzhen Gas said it has signed a long-term deal to buy liquefied natural gas (LNG) from a unit of energy giant BP.

Under the contract, a unit of Shenzen Gas will purchase 225,000 to 300,000 tons a year of LNG from BP China, according to the city gas distributor and LNG importer.

The supplies would start from January 2023 and continue until December 2032, Shenzen Gas said.

Shenzhen Gas did not provide any additional information.

The firm has earlier this year ordered a 79,960-cbm carrier at Hudong, marking its first entry into the LNG shipping business.

The new vessel will serve its facility at Yantian port in the city of Shenzhen with an annual capacity of 800,000 tonnes. The facility has one LNG jetty and one 80,000-cbm storage tank.

On the other side, BP in January started to directly supply customers in China with regasified LNG that it has imported into the country.

Also, China’s Guangzhou Development Group said in July it has signed a long-term deal to buy LNG from a unit of BP as well.

Under this oil-linked deal, BP Singapore will deliver 650,000 tonnes per year of LNG from 2022 and until the end in 2034.

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