Metric

Greenhouse gas (GHG) emissions from the domestic oil and natural gas industry declined by more than 48 million metric tons of carbon dioxide equivalent in 2007 and 2008, a reduction comparable to taking 9.7 million cars off the roads, according to the results of a new study sponsored by the American Petroleum Institute (API).

BP announced last week that it signed a memorandum of understanding with Brass LNG in Nigeria to purchase two million metric tons a year of liquefied natural gas (LNG). The deal, which is expected to be concluded later this year, will cover a 20-year period starting in 2010. The LNG will be delivered by Brass and used by BP to supply markets in the Atlantic basin, particularly the United States and United Kingdom. Under the flexible contract, LNG also may be delivered to other existing LNG markets and a number of proposed new terminals that BP and its partners are seeking to develop in New Jersey, Texas, elsewhere in the U.S. and in Italy. The new LNG supply will compliment BP’s equity LNG from Trinidad, Australia, Indonesia and Abu Dhabi, which will make up the majority of its portfolio, together with LNG from Egypt and third-party purchase agreements with Oman and Qatar.

Chevron Corp.’s Australian unit has signed a “heads of agreement” with Japan’s Osaka Gas Co. Ltd. to deliver 1.5 million metric tons/year of liquefied natural gas (LNG) from the Gorgon Project beginning in 2011. The parties also are discussing a possible sale of equity interest in the project, which is jointly owned by Chevron (50%), Royal Dutch Shell (25%) and ExxonMobil Corp. (25%).

What do you get when you mix coconut oil and liquefied naturalgas? A minus-260-degrees-Fahrenheit Pina Colada.

What do you get when you mix coconut oil and liquefied naturalgas? A minus-260-degrees-Fahrenheit Pina Colada.