BP will supply approximately 800,000 tons of LNG per year to Singapore’s Pavilion Energy for 10 years from 2024.
Singapore, one of Asia’s major economies, signed a new agreement to diversify its natural gas supply.
UK-based energy company BP, its Singapore unit BP Singapore Pte Limited and Singapore public energy company Pavilion Energy have announced that they have signed a long-term LNG supply agreement.
According to the statement, BP will supply approximately 800 thousand tons of LNG per year to Singapore for 10 years from 2024.
Both companies will work together to create and implement a GHG measurement and reporting system, as well as supplying LNG to Singapore. The methodology, which will be developed based on the principle of mutual transparency and adherence to relevant international standards, will cover emissions from drilling works to gas delivery.
Recalling BP’s goal of becoming a net-zero company by 2050, Eugene Leong, BP’s country president for Singapore, said the agreement will enable the company not only to supply LNG to the Singapore market, but also to develop a joint methodology for measuring supply-related carbon intensity.
SEA NEWS AGENCY
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