BP ties up with Zhejiang Energy for trucked LNG sales in China

BP China on May 31 announced the formation of a joint venture with Zhejiang Energy Gas Group to market and supply trucked LNG in China.

The joint venture involves the establishment of a sales company that will focus on distributing LNG through tanked trucks. This marks BP's third trucked LNG marketing and sales venture in China, following Shenzhen Dapeng LNG Marketing Co. and Xinying Energy Marketing Co. 

BP China currently holds a 30% stake in the Cnooc-operated Guangdong Dapeng LNG terminal located in Shenzhen, Guangdong province. The terminal provides BP with access to 600,000 metric tons/year of regasification capacity. This partnership further expands BP's presence in the Chinese LNG market, enabling the company to leverage its expertise in LNG marketing and supply.