BP is an integrated supplier,
transporter and marketer in the world LNG marketplace.
SUPPLY:
The company owns interests in the following 16 trains:
MARKETS:
USA (North America)
BP supplies LNG to the USA through the Cove
Point Liquefied Natural Gas (LNG) terminal, one
of four existing LNG import facilities in the United
States, located on 1,017 acres of land on the western
shore of Chesapeake Bay. Cove Point was in service from
1978 until 1980 when it was mothballed due to the downturn
in US gas prices. Cove Point reopened as a peakshaver
in 1995. Storage capacity is 6.75 bcf with a vaporization
capacity of 1 bcf/d. BP secured 250 mmscfd of Cove Point
capacity in an open season that was held in 2000. Cove
Point was re-activated in August 2003. The terminal
represents a key element of BP's Atlantic LNG portfolio,
providing access into the growing North American market.
Together with the Dominican Republic, Cove Point provides
a premium market for Trinidad LNG.
Dominican Republic
BP is supplying Atlantic Basin Services (a subsidiary
of the global power generation, distribution and retail
supply company, AES
Corporation) with approximately 50-90 million cubic
feet per day of LNG for its Dominican Republic power
projects. LNG is supplied via a new purpose built receiving
terminal on the south coast of the island. The regasified
LNG is used to fuel the 304 MW AES Andres Combined Cycle
Gas Turbine plant. As electricity demand grows in the
Dominican Republic, LNG will also be used to fuel the
existing 210 MW AES Loas Minas facility. Uniquely the
supply is not based on the traditional structure of
a dedicated production source but instead is sold under
the "BP brand" whereby product may be derived from a
variety of LNG projects.
Spain
Spain represents a key part of BP's gas and power strategy.
Spain is strategically located at the intersection of
the Middle East and Atlantic supply basins and is ideally
placed for future equity gas from Egypt, Trinidad and
Tobago or other locations where BP has upstream positions.
It also represents one of the few remaining major un-contracted
gas markets. BP forecasts demand to grow from 24bcma
in 2004 to 40bcma by 2010 largely attributable to increases
in installed power capacity. BP has captured circa 10%
of the liberalized gas market in Spain through its commercialiser
business selling gas to the industrial and commercial
sectors. BP is currently the largest entrant into the
market being second only to the incumbent gas company.
BP acquired 5% of the equity in Enagas, the company
that owns the majority of the country's re-gas and transport
infrastructure. BP is one of 4 shareholders in BBE and
BBG in the northern city of Bilbao. Our partners in
these two companies are EVE, Iberdrola and Repsol. BBE
is an 800 MW power plant commissioned in 2003. BBG,
which is located adjacent to BBE, consists of the only
operating LNG re-gasification plant in Spain not owned
by Enagas. The plant supplies gas to the power station
and the local distribution grid. The complex is Europe's
first integrated LNG re-gasifcation and power complex.
Participants in the following LNG terminals:
- Terminal
Recepcion de GNL/Huelva
- Terminal
Recepcion de GNL/Barcelona
UK
BP and Sonatarch hold long-term capacity rights in the Isle of Grain import regasification facility which is being developed
on the Medway River, 20 miles east of London - and which
is owned and operated by National Grid Transco (NGT).
The capacity rights will enable the two companies to
source and then supply around 500 million standard cubic
feet per day (mmscfd) of LNG into the UK market from
2005 - representing approximately 5% of UK demand. The
UK market requires new and increasing volumes of imported
gas from 2005 to supplement the UK's existing indigenous
supplies. The Isle of Grain facility is an advantaged
import terminal - located in the heart of the UK's primary
gas demand region and with existing connections to the
UK gas grid.
SHIPPING:
BP Shipping has eight LNG carriers:
(125,000 cubic metres)
Northwest Shearwater
(135,000 cubic metres)
Al Khaznah
Ghasha
Ish
Shahamah
(138,000 cubic metres)
British Trader
British Innovator
British Merchant
BP is the one of the largest oil companies in the world
with over 96,000 employees in 100 countries. It operates
19 refineries and has proved reserves of 18.3 million
barrels of oil and gas equivalents. In addition to traditional
oil and gas operations.
CONTACT: Vivienne Cox, executive vice president for
gas, power & renewables, and integrated supply & trading,
BP plc, 1 St James's Square London, SW1Y 4PD United
Kingdom. Phone: 44 20 7496 4000 Fax: 44 20 7496 4630 |
