Shenzhen Gas Signs 10-Year LNG Supply Deal With BP
October 07 2021 - 9:22PM
Dow Jones News
By Yongchang Chin
Shenzhen Gas Corp. Ltd. has signed a 10-year liquefied natural
gas supply deal with BP to bring in 225,000 to 300,000 tons a year
of LNG volumes over January 2023 to December 2032.
Shenzhen Gas didn't disclose the value of the deal nor how the
LNG cargoes would be priced, but said Friday that it would pay
market prices plus a service fee.
The supply deal comes as China is increasing efforts to shore up
its energy supply given a global shortage of fossil fuels such as
coal and natural gas.
BP is an active player in the Asian LNG market, holding a 30%
stake in China's Guangdong Dapeng LNG terminal, the first LNG
terminal in China. It also operates the Tangguh LNG export plant in
Indonesia.
Write to Yongchang Chin at yongchang.chin@wsj.com
(END) Dow Jones Newswires
October 07, 2021 21:07 ET (01:07 GMT)
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