bp delivers its first carbon offset LNG cargo in Asia-‎Pacific to CPC Corporation, Taiwan

Source: press release, 6 September 2021

EVP of bp trading & shipping, Carol Howle
EVP of bp trading & shipping, Carol Howle (photo: bp)

BP Singapore Pte. Limited has announced that it has delivered its ‎first carbon offset liquefied natural gas (LNG) cargo to CPC Corporation, Taiwan‎, to the Yung An terminal in Taiwan in September 2021 and was sourced ‎from bp’s LNG portfolio.‎

This is bp’s first delivery of carbon offset LNG in the Asia-Pacific region, following its ‎first delivery globally to Sempra LNG at the Energia Costa Azul terminal in Mexico in ‎July 2021. This new carbon offset LNG offer strengthens bp’s natural gas offering in ‎the region.‎

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 has ‎been developed having regard to relevant international standards and incorporating ‎input from third party experts including the Wood Mackenzie LNG Carbon Emissions ‎Tool and may be updated from time to time.

Global demand for LNG is growing rapidly. bp intends to continue supporting this ‎growth by diversifying its offer, including by developing bundled carbon offset LNG ‎products to meet customers’ demand.

Carol Howle, EVP of bp trading & shipping, says, “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. 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.”

Jonty Shepard, VP of LNG trading and origination, bp trading & shipping, says, “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.”‎

More widely, bp has set out specific greenhouse gas emission reductions and other ‎aims for 2030 in support of its ambition to be a net-zero company by 2050 or sooner ‎and to help the world get to net zero. bp does not intend to rely on carbon credits to ‎meet its 2030 net-zero aims.‎