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    002911   CNE100003332

FORAN ENERGY GROUP CO.,LTD.

(002911)
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BP signs 10-year pipeline gas deal with China's Shenzhen Gas

10/21/2021 | 01:03am EST
Logo of BP is seen at a petrol station in Kloten

SINGAPORE (Reuters) - BP has signed a sales and purchase agreement with a unit of China's Shenzhen Gas Group Co Ltd to supply piped natural gas for 10 years starting 2023, BP said in a statement on Wednesday.

Under the agreement, BP will provide Shenzhen Sino-Benny LPG Co Ltd, a wholly-owned unit of Shenzhen Gas, with up to 300,000 tonnes a year of pipeline gas.

The gas will be supplied through the liquefied natural gas (LNG) receiving terminal of Guangdong Dapeng LNG Company Ltd in Shenzhen, where BP holds regasification capacity. 

BP also said the fuel will be indexed to international LNG prices.

The company has a similar deal with Guangdong-based Foran Energy Group to supply pipeline gas from the same terminal with supplies starting 2021.

(Reporting by Chen Aizhu and Jessica Jaganathan; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -0.78% 348.15 Delayed Quote.36.85%
FORAN ENERGY GROUP CO.,LTD. 0.52% 11.62 End-of-day quote.9.38%
SHENZHEN GAS CORPORATION LTD. 0.80% 8.83 End-of-day quote.21.96%
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Financials
Sales 2020 7 515 M 1 184 M 1 184 M
Net income 2020 469 M 73,9 M 73,9 M
Net Debt 2020 663 M 104 M 104 M
P/E ratio 2020 21,5x
Yield 2020 3,32%
Capitalization 10 983 M 1 731 M 1 731 M
EV / Sales 2019 1,33x
EV / Sales 2020 1,42x
Nbr of Employees 1 923
Free-Float 10,7%
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Managers and Directors
Yi Cun Huang President & General Manager
Dan Ying Xie Deputy GM, Chief Financial & Accounting Officer
Xiang Yin Chairman
Jian Hang Qiu Chairman-Supervisory Board
Jian Jun Zhang Independent Director