BP, China's Foran Energy Sign Gas Deal

BP on July 21 signed a gas supply agreement with China’s Foran Energy. The UK major will supply 300,000 metric tons/year of pipeline gas regasified from LNG for two years from January 1, 2021 in Guangdong. 

The LNG will be received and regasified at the LNG receiving terminal of Guangdong Dapeng LNG Company (GDLNG), where BP holds regasification capacity. This deal is similar to the one BP signed with ENN earlier this month.

GDLNG, which BP has a 30% stake in, is China’s first pilot LNG import and regasification terminal. Dongguan ENN is a customer of GDLNG, cooperating more than ten years. For the past decade, GDLNG has delivered approximately 50% of the accumulative gas consumption to its customers in Guangdong region, making it one of the most utilized terminals in China, BP said.