BK LNG Solution (BKLS) to import its first LNG spot cargo into China.
- AG&P LNG and BK LNG announce partnership for LNG imports into China.
- AG&P LNG will provide BKLS with breakbulk solution to China from Cai Mep Terminal in Vietnam.
- Earlier this year in April, BKLS signed a collaboration agreement with Huaying International Energy Trading to jointly secure LNG from the market to supply Huaying LNG Terminal.
- The cargo will be delivered by end of August 2024.
SINGAPORE, July 11, 2024 /PRNewswire/ -- AG&P LNG, a global leader in LNG terminals and downstream infrastructure, and BK LNG Solution (BKLS), a leading provider of comprehensive LNG solutions based in Singapore, completed an agreement to introduce the first spot cargo into China, underscoring their joint commitment to meeting China's exponential LNG demand growth. This significant milestone was celebrated with a signing ceremony on 11th July 2024, with cargo delivery by end of August 2024.
The partnership signifies a pivotal moment for both AG&P LNG and BKLS, highlighting their strategic alignment in enhancing LNG supply reliability in China. AG&P LNG, renowned for its robust capabilities in LNG supply, terminals, and logistics, will leverage its global LNG sourcing expertise to ensure efficient and secure delivery of LNG to the Chinese market.
Scene of the signing ceremony, from left to right: Henry Kim, President of BK LNG Solution, Karthik Sathyamoorthy, CEO of AG&P LNG
"We are pleased to announce the signing ceremony where we formalized our agreement to bring our first spot cargo into China," said Henry Kim, President of BK LNG Solution. "This collaboration demonstrates our dedication to providing innovative and diversified LNG solutions to meet the dynamic needs of the Chinese LNG market."
In addition to the spot cargo transaction, AG&P LNG and BKLS has agreed to collaborate on Small Scale LNG (ssLNG) initiatives, utilizing the terminal at Cai Mep, Vietnam for breakbulk into China using small LNG carriers and ISO containers. This initiative underscores their commitment to expanding LNG distribution capabilities and enhancing market responsiveness across China.
Scene of the signing ceremony, from left to right: Henry Kim, President of BK LNG Solution, Karthik Sathyamoorthy, CEO of AG&P LNG
"We look forward to advancing our collaboration with BKLS beyond the first spot cargo transaction," added Karthik Sathyamoorthy, CEO of AG&P LNG. "Together, we aim to set new benchmarks in delivering reliable and sustainable LNG solutions to support China's growing energy demands. Diversifying energy sources with LNG enhances China's energy security and supports its economic growth. Our collaboration on Small Scale LNG initiatives not only expands LNG distribution capabilities but also ensures quicker, more responsive delivery of LNG, crucial for meeting increasing demand across China."
The signing ceremony marks a significant step forward in AG&P LNG and BKLS's joint efforts to advance LNG solutions in China. China's LNG import market is set for substantial growth; this partnership places AG&P LNG and BKLS at the forefront of addressing the nation's evolving energy requirements.
About AG&P LNG
AG&P LNG is a global leader in developing and running LNG and gas logistics and distribution solutions. AG&P provides the infrastructure to access natural gas safely and easily in new and growing markets. We act as an owner and service provider covering the development, financing, engineering, procurement, project management and construction of onshore and offshore gas infrastructure, linking suppliers to downstream customers. www.agplng.com
About BK LNG Solutions
BK LNG Solution (BKLS) is a Singapore-based company specializing in providing comprehensive LNG solutions, dedicated to meeting global energy demands through innovation and sustainable practices. Leveraging its extensive network and expertise, BKLS delivers customized LNG solutions to international markets. www.bkwithu.com
