bp signs agreement with ENN in China
bp has signed a gas supply agreement with ENN Group (ENN) to jointly support the growing energy needs of China’s southern Guangdong region.
Under the terms of the agreement, bp will provide ENN with 300,000 tonnes per year of pipeline gas re-gasified from LNG for two years from 1 January 2021 in Guangdong. The LNG will be received and re-gasified through the LNG receiving terminal of Guangdong Dapeng LNG Company Limited (GDLNG) where bp holds regasification capacity.
Dev Sanyal, executive vice president of bp gas & low carbon energy, said: “Our strategy is to integrate energy value chains and, with this transaction, we have created an innovative model that integrates upstream gas resources, transportation and trading, into downstream markets in China. This is the first time an international energy company will re-gasify LNG through a Chinese terminal and also directly supply gas to customers. We look forward to further cooperating with ENN and contributing to China’s ever-growing energy demand.”
Wang Yusuo, chairman of ENN Group, said: “Today’s cooperation will enable ENN to provide better resources and services to our customers. It will also empower the energy industrial reform and development in China. Looking into the future, bp has announced its respected ‘Net Zero’ ambitions. ENN is also dedicated to building a modern energy system by adopting digital technologies. These visions to better build our planet, will need support from all aspects. It’s a great beginning. We hope to deepen cooperation with innovative outcomes, together contributing to the development of global clean energy.”
Source / More information : BP
Report by: OGP/Segun Cole , Please email us your industry related news for publication [email protected]
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