On Monday, global integrated energy giant bp announced via its Singapore subsidiary that it has successfully delivered its first carbon offset liquefied natural gas (LNG) cargo to Taiwanese energy company CPC Corporation. The delivery was received at Taiwan’s Yung An Terminal, a key import and re-gasification port, in September 2021, sourced from bp’s LNG portfolio.
The transfer marks bp’s first-ever delivery of carbon offset LNG in the Asia-Pacific region, following its first global delivery to Sempra LNG at the Energia Costa Azul terminal in July 2021. In an official statement on Monday, bp said this new carbon offset LNG would strengthen bp’s natural gas offering in the region. The company noted that with global demand for LNG on the rise, it intends to support the market’s rapid growth through continued diversification, including by developing bundled carbon offset LNG products to meet customer demand.
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 GHG quantification methodology for LNG. The methodology was developed against relevant international standards, with input from third party experts including the Wood Mackenzie LNG Carbon Emissions Tool.
“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,” said bp’s EVP of Trading and Shipping, Carol Howle. “The development of a clear and reliable methodology for quantifying the carbon intensity of 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.”
“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,” offered the company’s VP of LNG trading and origination, Jonty Shepard.
bp Singapore is a wholly owned bp subsidiary whose main activities include oil, gas, biofuel, carbon and finance trading for the Asia Pacific and Middle East regions. Singapore is also the regional headquarters from which bp’s shipping, lubricants and aviation fuels businesses serve international markets and customers. bp has widely telegraphed its intention for all of its business units to be net-zero by 2050 or sooner.
