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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BP plc    BP.   GB0007980591

BP PLC

(BP.)
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End-of-day quote. End-of-day quote London Stock Exchange - 10/28
191.58 GBX   -2.13%
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BP confirms plans to ship gas to Europe from Azerbaijan by year-end

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10/13/2020 | 11:56am EDT
FILE PHOTO: File photograph shows a sign is outside BP's North Sea Headquarters in Aberdeen

BAKU (Reuters) - Oil major BP has confirmed plans to start shipping natural gas from Azerbaijan to Europe by the end of the year, as concerns about the military conflict over the Nagorno-Karabakh region have heightened.

Armenia and Azerbaijan have been involved in the worst fighting over Nagorno-Karabakh since a 1991-94 war, prompting international diplomatic efforts to stop the conflict.

BP is a shareholder in the Trans Adriatic Pipeline (TAP), part of the Southern Gas Corridor project, designed to export energy from Azerbaijan's offshore Shah Deniz field to Europe.

It said in a statement the commissioning of TAP and the interconnecting pipeline built by Snam Rete Gas was expected to be ready in November.

"(This) will allow the Shah Deniz Consortium to finalise the final steps required to start the twenty-five years long supplies of natural gas from Azerbaijan to customers in Italy, Greece and Bulgaria as planned by the end of 2020," BP said.

The $40 billion Southern Gas Corridor will draw from Azerbaijan's giant Shah Deniz II field in the Caspian Sea and has the backing of the European Commission as it seeks to curb Europe's dependence on Russian energy.

From the fully completed Southern Corridor, Turkey will receive additional 6 billion cubic metres (bcm) of Azeri gas per year, while 10 bcm is earmarked for Europe.

(Reporting by Nailia Bagirova, writing by Vladimir Soldatkin; editing by Emelia Sithole-Matarise)


Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -2.13% 191.58 Delayed Quote.-58.49%
GAZPROM -1.87% 159.08 End-of-day quote.-37.96%
LONDON BRENT OIL -1.72% 39.92 Delayed Quote.-37.71%
SNAM S.P.A. -1.25% 4.201 Delayed Quote.-9.20%
US DOLLAR / TURKISH LIRA (USD/TRY) 0.82% 8.26099 Delayed Quote.37.82%
WTI -2.20% 38.01 Delayed Quote.-36.11%
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Financials (USD)
Sales 2020 186 B - -
Net income 2020 -22 644 M - -
Net Debt 2020 44 896 M - -
P/E ratio 2020 -2,20x
Yield 2020 10,6%
Capitalization 51 690 M 51 861 M -
EV / Sales 2020 0,52x
EV / Sales 2021 0,41x
Nbr of Employees 67 600
Free-Float 93,2%
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Technical analysis trends BP PLC
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Income Statement Evolution
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Sell
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 4,34 $
Last Close Price 2,55 $
Spread / Highest target 163%
Spread / Average Target 70,1%
Spread / Lowest Target -25,4%
EPS Revisions
Managers
NameTitle
Bernard Looney Chief Executive Officer & Director
Helge Lund Chairman
Andy Hopwood COO & Executive VP-Upstream Strategy
Murray Auchincloss Chief Financial Officer
Angela Rosemary Emily Strank Chief Scientist & Head-Downstream Technology
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PTT-27.27%29 458