BP signs 10-year piped gas supply deal with China’s state power investment corp
The Chinese unit of British oil and gas company BP has signed an LNG sale and purchase agreement with a subsidiary of China’s State Power Investment Corp (SPIC) for a period of ten years starting in 2023.
Under the deal, BP will sell 200,000 metric tonnes of pipeline gas per year to China’s power utility SPIC for ten years.
Coming from the Guangdong Dapeng LNG import terminal, the regasified liquefied natural gas will go to supply the southern Guangdong province.
Moreover, BP is the first international energy company in China to invest in an LNG terminal in operation. It owns 30 percent of the shares of Guangdong Dapeng terminal. The terminal is China’s first LNG import and regasification terminal pilot project.