Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  BP    BP.   GB0007980591

BP (BP.)
Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

BP : strengthens LNG shipping capacity

share with twitter share with LinkedIn share with facebook
share via e-mail
10/05/2017 | 12:14pm CEST

BP is taking delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers to support its expanding global LNG portfolio, and to respond to growing demand for lower-carbon energy sources around the world.

BPs finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers, which will join existing tankers in BP Shippings fleet in 2018 and 2019. The vessels will help service a 20-year liquefaction contract with the Freeport LNG facility in Texas, as well as other international LNG projects in BPs global portfolio.

These vessels will significantly increase BPs ability to safely transport LNG to anywhere in the world, directly supporting BPs global natural gas strategy, said BP Shipping CEO Susan Dio. They also will be among the most fuel-efficient and technically advanced LNG tankers ever built.

Equipped with next-generation engine technology, the new ships are designed to be about 25% more fuel efficient than their predecessors. They also will be fitted with a reliquefaction plant, meaning evaporated natural gas in the cargo tanks can be returned to the tanks as LNG, allowing the ships to deliver more LNG to the market.

BP has a long-term contract for 230 Trillion BTUs per year of LNG capacity in the Freeport LNG facility. The Freeport LNG liquefaction facility is under construction, and the first train is expected to be operational by the end of 2018.

BP also participates in LNG projects in Australia, UAE, Indonesia, Trinidad and Angola. This portfolio includes a mix of long-term, mid-term and short-term supply to enable BP to best meet the ever-changing needs of its global portfolio of customers.

BP has built a diverse LNG portfolio spanning both established and emerging markets, said Alan Haywood, CEO of BPs global supply and trading business. Freeport is the latest example of how BP continues to expand the reach of our LNG business and serve our customers with flexible solutions through leveraging our scale, connectivity and relationships - and another sign of our commitment to remaining at the forefront of this rapidly growing and important global business.

The 2017 BP Energy Outlook forecasts that global LNG trade will grow seven times faster than pipeline gas trade, such that by 2035 it accounts for around half of all globally traded gas. The newly expanded BP Shipping fleet will deliver LNG volumes to a range of BP customers around the world.

(c) 2017 Saudi Research and Publishing Co. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on BP
10/18 BP : eyes smaller renewable investments to avoid repeating losses
10/18 BP : Iraq wants to bring back BP after regaining control of Kirkuk oil
10/18 BP : Air BP Invests in Fuel System Upgrades at Lands End Airport
10/18 BP : Iraqi oil minister asks BP to develop Kirkuk oilfields, oil ministry says
10/17 LIGHTNING VENTURES : Appoints Robert Tjandra to Board of Advisors
10/17DJEUROPEAN MORNING BRIEFING : Stocks to Stall as Fresh Catalysts Eyed
10/16DJBP : Launches IPO of Subsidiary, Raising Up To $892.5 Million
10/16 BP : Midstream Partners seeks to raise up to $893 million in IPO
10/14 BP : Regional President names factors to turn Azerbaijan into a regional energy ..
10/14 BP : Art for All? Tate, the Turner Prize, Art Theft and Portraits
More news
News from SeekingAlpha
10/18 Renewable energy has little impact on bottom line so far, BP's Dudley says
10/18 FT : BP?s Dudley says ?swimming pools are draining? as oil market tightens
10/18 WALL STREET BREAKFAST : Markets Eye China's Party Congress
10/18 BP mixed into Kirkuk oil field drama
10/17 OIL : Innovate Or Die
Financials ($)
Sales 2017 229 B
EBIT 2017 10 775 M
Net income 2017 5 424 M
Debt 2017 38 426 M
Yield 2017 6,06%
P/E ratio 2017 22,86
P/E ratio 2018 17,11
EV / Sales 2017 0,73x
EV / Sales 2018 0,70x
Capitalization 129 B
Chart BP
Duration : Period :
BP Technical Analysis Chart | BP. | GB0007980591 | 4-Traders
Technical analysis trends BP
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 27
Average target price 6,52 $
Spread / Average Target 0,75%
EPS Revisions
Robert W. Dudley Group Chief Executive Officer & Executive Director
Carl-Henric Svanberg Chairman
Brian Gilvary Group Chief Financial Officer & Executive Director
Paul Milton Anderson Independent Non-Executive Director
Ian Edward Lamert Davis Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
BP-3.69%128 735
SUNCOR ENERGY INC.-4.69%55 936