BP partners for LNG truck delivery in China

China

BEIJING, June 2, 2023 – BP has established a joint venture with China’s Zhejiang Energy Group to deliver LNG to the Chinese market via tanker truck transport, the UK energy giant announced on Wednesday.

The new entity named Zhejiang Energy Natural Gas is BP’s third LNG trading companies in China, including Shenzhen Dapeng LNG Sales Company and Xinying Energy Trading Company.

BP holds a 30% stake in the Guangdong Dapeng LNG terminal located in the south of China in Shezhen. The facility came on line in 2006.

Additionally, BP has a 10% stake in an LNG receiving terminal in Ginyu district in the Jiangsu province that began construction in January 2023. The facility is expected to come on line in 2027 and have the capacity to handle 6 million tonnes per year of LNG.

Zhejiang Energy Group operates as a gas entity in China’s eastern Zhejiang province. In 2022, they sold 15 bcm (530 bcf) of gas.