{"id":2468,"date":"2022-11-27T14:48:34","date_gmt":"2022-11-27T14:48:34","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=2468"},"modified":"2022-11-27T14:48:37","modified_gmt":"2022-11-27T14:48:37","slug":"chinas-shenzhen-energy-signs-long-term-lng-contract-with-bp","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/2468\/","title":{"rendered":"China’s Shenzhen Energy signs long-term LNG contract with BP"},"content":{"rendered":"
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China’s Shenzhen Energy Group\u00a0(000027.SZ)\u00a0has signed a long-term agreement with oil major BP\u00a0(BP.L)\u00a0to buy liquefied natural gas (LNG), aiming to lock in supplies with gas-fired power generation poised to surge in the world’s second-largest economy.<\/p>\n\n\n\n

The agreement is Shenzhen Energy’s first long-term international LNG contract and its first long-term contract with BP Singapore, the Chinese company said in a statement on Friday.<\/p>\n\n\n\n

The statement did not specify details of the agreement, including the duration of the contract.<\/p>\n\n\n\n

“To meet the demand of Guangdong province and Shenzhen city for energy security and stability, Shenzhen Energy Group is making efforts to promote the construction of gas power plants,” it said.<\/p>\n\n\n\n

“It is estimated that around 2024, as the gas power plants go into operation, the group’s total demand for natural gas will significantly rise.”<\/p>\n\n\n\n

China’s LNG importers are widely expected this winter to\u00a0avoid\u00a0the spot market, where prices have risen sharply, relying instead on Russian supplies and long-term contracted volumes.<\/p>\n\n\n\n

QatarEnergy has signed a\u00a027-year deal\u00a0to supply LNG to China’s Sinopec in the longest such agreement to date, as volatility drives buyers to seek long-term supplies.<\/p>\n

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