On July 9, BP announced that it has signed natural gas purchase and sales agreement with ENN Group. Both parties will jointly provide strong support to meet the growing demand for clean energy in southern China’s Guangdong province.
Under the agreement, BP will provide 300 kt/a of pipeline natural gas to ENN Group in Guangdong for two years, effective from January 1, 2021. The gas will be delivered to and gasified by the liquefied natural gas (LNG) receiving station of Guangdong Dapeng LNG Co., Ltd., which has the right to process and use BP gas.
According to BP Statistical Review of World Energy for 2020, which was recently released, global natural gas consumption increased by 2% year on year in 2019 and LNG exports rose by 54 billion cubic metres (bcm). The increase in global supply and demand is driven by China's strong demand growth. In 2019, China’s LNG imports increased by 11.3 bcm, ranking first in terms of the growth in import volumes.