September 13 -- BP has signed a third long-term contract to purchase liquefied natural gas (LNG) from the Woodfibre LNG facility in British Columbia, Canada. The new contract is for 0.45 million tonnes of LNG per year (mtpa) for a period of 15 years. This brings BP's total commitment to purchase LNG from Woodfibre to 1.95 mtpa. The remaining capacity of the facility will be available for flexible offtake.
BP sees LNG as an essential part of the energy transition and is working towards building an LNG portfolio of 30 mtpa by 2030. The additional Canadian supply source will help BP meet the growing global demand for LNG and further enhance its position as a leading LNG player.
“As the world seeks secure, affordable and lower carbon energy, global demand for LNG is expected to continue to grow and this additional Canadian supply source will further enhance BP’s supply positions in the Pacific region. We look forward to continuing our close collaboration with Woodfibre LNG,” said Jonathan Shepard, Vice-President global LNG trading and origination, BP.
In addition to securing LNG offtake rights from the project, BP will provide safe and reliable transportation of gas to the Woodfibre LNG export facility during the 15-year contact term.