A long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) has been signed between BP Singapore and Pavilion Energy.
The deal will see 800,000 tonnes of LNG supplied to Singapore for 10 years from 2024.
With a plan to co-develop a greenhouse gas (GNG) quantification and reporting strategy, both companies have agreed that reducing their carbon footprint should also be prioritised.
Frédéric H. Barnaud, Group CEO of Pavilion Energy, said about the partnership, “This agreement further strengthens our relationship with BP as Pavilion Energy advances our strategies for a lower carbon future, beginning with GHG emissions quantification, reduction and offsets for Singapore.”
Speaking about BP’s ambition to achieve net-zero emissions, Eugene Leong, BP’s country president of Singapore and CEO of trading & shipping Asia Pacific & Middle East, said, “BP’s ambition is to be a net zero company by 2050 or sooner and to help the world get to net zero.”
“We look forward to working with Pavilion Energy in implementing this innovative deal using BP’s LNG supply portfolio.”
The partnership’s GNG quantification strategy will cover emissions from wellhead-to-discharge terminal