british merchant LNG bp

BP Looks to Solidify LNG Supply Train to India

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August 7, 2012

BP’s British Merchant LNG carrier

LONDON–BP PLC (BP) is exploring options for importing liquefied natural gas to India through its joint venture with Reliance Industries Ltd. (500325.BY), Chief Executive Bob Dudley said Tuesday.

BP last year signed a $7.2 billion deal with Reliance to jointly develop oil and gas assets in India, including a technically challenging natural gas block off its east coast.

Mr. Dudley said BP’s “longer-term” interest in the venture lay in feeding India’s burgeoning energy demand, including supplying the country with LNG. The natural gas would likely be imported from elsewhere in Asia and not North America, Mr. Dudley said.

The U.K.-based major is currently developing a huge LNG project in Indonesia named Tangguh, where it aims to produce around 7.6 trillion feet of LNG sourced from six offshore fields.

– Alexis Flynn, (c) 2012 Dow Jones & Company

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