BP inks long-term LNG supply deal in China

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

Under the contract, Guangzhou Gas, a unit of Guangzhou Development, will purchase 650,000 tonnes per year of LNG from BP Singapore.

Guangzhou Development said in a statement the oil-linked supplies would start in 2022 and end in 2034.

Worth mentioning here, BP Singapore has also recently signed a ten-year deal to supply LNG to Singapore’s Pavilion Energy.

Under the sale and purchase agreement, Temasek’s Pavilion Energy will buy 0.8 million tonnes of LNG per year for delivery to Singapore from 2024.

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

China’s LNG imports continue to rise on strong demand from the power generation and industrial sectors, and the country should overtake Japan as the world’s largest LNG importer this year.

The country has announced it aims for peak carbon dioxide emissions before 2030 and to become carbon-neutral by 2060.

Most Popular

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.

Atlantic LNG shipping rates continue to decrease

Atlantic LNG freight shipping rates continued to decrease this week, while European prices also dropped compared to last week.

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

More News Like This

BP inks LNG SPA with China’s Zhejiang Energy

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with China's Zhejiang Energy.

Mercuria inks long-term LNG supply deal with China’s Guangzhou Gas

Switzerland-based energy trader Mercuria has signed a long-term LNG sales and purchase agreement with China's Guangzhou Gas, a unit of Guangzhou Development Group.

BP ships second Tortue LNG cargo

UK-based energy giant BP and its partners have sent the second LNG cargo produced at the Greater Tortue Ahmeyim FLNG project, located offshore Mauritania and Senegal, according to shipping data.

China to receive first Tortue LNG cargo

China is expected to receive the first LNG cargo produced at the BP-operated Greater Tortue Ahmeyim FLNG project, located offshore Mauritania and Senegal, according to shipping data.