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.

- Advertisements -

Most Popular

RWE: Brunsbuettel FSRU to start supplying gas to grid next week

German energy firm RWE expects the 170,000-cbm FSRU Hoegh Gannet, which serves the Elbehafen LNG import terminal in Brunsbuettel,...

NextDecade targeting Rio Grande LNG FID by end of second quarter

US LNG terminal developer NextDecade is now expecting to take a final investment decision on the first three trains...

Shell teams up with Victrol and Sogestran for another LNG bunkering barge

LNG giant Shell has joined forces with a joint venture consisting of Belgium’s Victrol and French Sogestran to build...

More News Like This

BP and partners reveal more details on Tortue Phase 2

BP and partners on Monday confirmed the development concept for the second phase of the BP-operated Greater Tortue Ahmeyim...

Harvest and IGU working on small LNG plant in Alaska

Houston-based Harvest Midstream is joining forces with Alaska's Interior Gas Utility (IGU) to construct a small LNG plant and...

BP says Tortue FPSO on way to project site off Mauritania and Senegal

The floating production, storage and offloading (FPSO) vessel for the BP-operated Greater Tortue Ahmeyim FLNG project has started its...

BP gets Tangguh PSC extension as it works to launch third LNG train

BP and its partners have secured a 20-year extension for the Tangguh production sharing contract as they continue to...