AsiaContracts and Tenders

BP inks long-term LNG supply deal in China

By LNG Prime Staff
BP inks long-term China LNG supply deal
For illustration only (Image: BP)

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

LNG Terminals

Delfin takes FID on first FLNG

Delfin Midstream has taken a final investment decision for the first 4.4 mtpa floating liquefied natural gas unit of its LNG project under development in Louisiana. Delfin says the FLNG is the first floating liquefaction facility in the United States and the world's largest FLNG.
Contracts and Tenders

Samsung Heavy secures FLNG order from Delfin

South Korea's Samsung Heavy Industries has secured an order worth approximately $2.88 billion to build the first floating LNG production unit for Delfin Midstream, the US developer of a floating LNG export project offshore Louisiana, according to shipbuilding sources.
Contracts and Tenders

Macquarie to buy more LNG from Amigo LNG

A unit of Australia's Macquarie has agreed to buy more LNG from Amigo LNG's planned 7.8 mtpa LNG export plant in Mexico.

More News Like This

Contracts and Tenders

BP to sell Browse LNG stake to GS Energy

UK-based energy giant BP has agreed to sell a 5 percent stake in the planned Woodside-led Browse LNG project in Australia, which would deliver natural gas from the Calliance, Torosa, and Brecknock fields to the existing Karratha gas plant, to South Korea's GS Energy.
Corporate

BP removes chairman

UK-based energy giant BP has removed its chairman, Albert Manifold, with immediate effect.
Contracts and Tenders

BP, Kogas seal new long-term LNG supply deal

UK-based energy giant BP has signed a new long-term liquefied natural gas (LNG) sale and purchase deal with South Korean LNG importer Kogas.
LNG Terminals

BP boosts Tangguh LNG with new exploration blocks

UK-based energy giant BP and its partners signed three production sharing contracts in Indonesia. Two of the PSCs are for the Bintuni and Drawa exploration blocks, which are located near the existing BP-operated Tangguh LNG in Papua Barat, creating potential for short-cycle development, according to BP.