BP plc
BP plc
09/06/2021 | Press release | Distributed by Public on 09/06/2021 03:18
bp delivers its first carbon offset LNG cargo in Asia-Pacific to CPC Corporation, Taiwan
BP Singapore Pte. Limited ('bp Singapore') today announced that it has delivered its first carbonoffset liquefied natural gas(LNG) cargo to CPC Corporation, Taiwan ('CPC'), to the Yung An terminal in Taiwan in September 2021 and was sourced from bp's LNGportfolio.
This is bp's first delivery of carbon offset LNG in the Asia-Pacific region, following its first delivery globally to Sempra LNG at the Energia Costa Azul terminal in Mexico in July 2021. This new carbon offset LNG offer strengthens bp's natural gas offering in the region.
Carbon dioxide (CO2) and methane(CH4) emissions associated with the LNG cargo, from wellhead to discharge terminal for the specific source and voyage, were estimated using bp's GHGquantification methodology for LNG. The methodology has been developed having regard to relevant international standards and incorporating input from third party experts including the Wood Mackenzie LNG Carbon Emissions Tool, and may be updated from time to time.
Global demand for LNG is growing rapidly. bp intends to continue supporting this growth by diversifying its offer, including by developing bundled carbon offset LNG products to meet customers' demand.
'Natural gas has a key role to play in getting the world to net zero. This new offer further demonstrates our determination to remain one of the world's leading and most innovative LNG suppliers.'
Carol Howle, EVP trading & shipping, bp
Carol Howle, EVPof bp trading & shipping, said: 'Natural gas has a key role to play in getting the world to net zero. This new offer further demonstrates our determination to remain one of the world's leading and most innovative LNG suppliers. The development of a clear and reliable methodology for quantifying the carbon intensityof our LNG supply chain is an important step in helping our customers deliver their sustainability goals and supports our ambition to help the world get to net zero.'
Jonty Shepard, VP of LNG trading and origination, bp trading & shipping, said: 'bp continuously seeks ways to offer new energy solutions to LNG customers. bp is pleased to strengthen our long-standing relationship with CPC with this delivery of carbon offset LNG from bp's diverse portfolio of LNG sources, quantifying the carbon intensity associated with the LNG supply from wellhead to discharge terminal and then offsetting those emissions.'
More widely, bp has set out specific greenhouse gas emission reductions and other aims for 2030 in support of its ambition to be a net zero company by 2050 or sooner and to help the world get to net zero. bp does not intend to rely on carbon credits to meet its 2030 net zero aims.