BP signs long-term LNG deal with Zhejiang Energy

BP on Thursday said it has entered into a long-term liquefied natural gas sale and purchase agreement with Zhejiang Energy.

“Under the agreement, BP will provide Zhejiang Energy with up to approximately 1 million ton per annum of LNG for over 10 years on a delivered ex-ship (des) basis,” the company said in a statement.

BP cuts renewable investment and boosts oil and gas in strategy shift

The statement added that the deal was signed between Zhejiang Energy Natural Gas Trading Co Ltd and BP’s Singapore based entity BP Singapore Pte Limited, and was marked by a signing ceremony on May 21.