Global LNG

BP is taking a leading role in the worldwide growth of the Liquefied Natural Gas (LNG) market. We provide a flexible and competitive approach to bringing LNG to new markets and customers. Our track record in developing LNG assets is positioning us to be a major force in the trading of LNG.

Recent BP LNG activities include significant equity investment in shipping and re-gasification projects around the world. BP has a new fleet of LNG ships coming into operation during 2002 and 2003. This development is demonstrating our commitment to creating a flexible and efficient LNG supply operation covering many new markets in different regions of the world.

The investment gives us the ability to create fully integrated energy supply chains using the best in technology and project execution. This is supporting the development of significant new gas reserves in the Western Atlantic and Asia.

For example, our Trinidad LNG development set a new industry cost benchmark for LNG capacity. And our project at Bilbao, Spain, represents Europe's first integrated re-gasification and power project, and is due to begin operations in 2003. This is a groundbreaking exercise, where commercial, private capital organisations have linked a full value project with gas reserves in Trinidad to a commercial outlet in Spain - effectively creating a chain from "wellhead to wire".

In Indonesia, we are working to unlock a major new source of LNG at Tangguh that will serve the growing markets of the region. In China, we have been selected as the sole foreign participant in a consortium to develop China's first LNG import terminal and associated pipeline at Guangdong. And in India, we are working to develop new markets for LNG with our partners in the Kakinada LNG import terminal proposal.