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This excerpt taken from the BP 20-F filed Mar 4, 2008. Natural gas liquids Based on sales volumes, we are one of the largest producers and marketers of NGLs in North America and hold interests for NGL volumes in the UK and Egypt. NGLs produced in North America from gas chiefly sourced out of Alberta, Canada and the US onshore and Gulf Coast, are used as a heating fuel and as a feedstock for refineries and chemicals plants. In addition, a significant amount of NGLs are marketed on a wholesale basis under annual supply contracts that provide for price re-determination based on prevailing market prices. In North America, BP operates or has interests in NGL extraction plants with a processing capacity of 6.4bcf/d. These facilities are located in major production areas across North America, including Alberta, Canada, the US Rockies, the San Juan basin and the Gulf of Mexico. We also own or have an interest in fractionation plants (that separate the NGL into its component products) in Canada and the US, and own or lease storage capacity in Alberta, eastern Canada, and the US Gulf Coast, as well as the US west coast and mid-continent regions. Our North American NGLs processing capacity utilization in 2007 was 72%. In 2006, we entered into a long-term supply contract with Aux Sable Liquid Products to secure additional NGLs to supply our customers in the US Midwest. A major three-year programme to inspect, assess and repair or replace equipment is under way in BP’s North American NGLs business. On 20 March 2007, we completed the sale of BP’s 50% equity and operating interest in the Cochin pipeline system to Kinder Morgan Energy Partners. BP operates one NGLs plant (Central Area Transmission System, 30% owner and operator with a capacity of 1.2bcf/d) in the UK and we are a partner (33.33%) in a gas processing plant in Egypt with 1.1bcf/d of gas processing capacity. We have also secured access to the Abibes LPG terminal in Cremona, northern Italy.
This excerpt taken from the BP 20-F filed Mar 6, 2007.
Natural gas liquids With global demand for NGLs, both as a chemicals feedstock and as a cleaner fuel, forecast to grow in excess of 3% a year, this business is expected to offer potential for further growth. Based on sales volumes, we are one of the leading producers and marketers of NGLs in North America and hold interests for NGL volumes in the UK and Egypt. NGLs produced in North America from gas chiefly sourced out of Alberta, Canada, and the US onshore and Gulf Coast, are used as a heating fuel and as a feedstock for refineries and chemicals plants. NGLs are sold to petrochemicals plants and refineries, including our own. In addition, a significant amount of NGLs are marketed on a wholesale basis under annual supply contracts that provide for price redetermination based on prevailing market prices. We operate natural gas processing facilities across North America, with a total capacity of 6.4bcf/d. These facilities, which we own or in which we have an interest, are located in major production areas across North America, including Alberta, Canada, the US Rockies, the San Juan basin and the Gulf of Mexico. We also own or have an interest in fractionation plants (that process the natural gas liquids stream into its separate component products) in Canada and the US, and own or lease storage capacity in Alberta, eastern Canada, and the US Gulf Coast, as well as the US West Coast and mid-continent regions. Our North American NGL processing capacity utilization in 2006 was 75%. In addition, we have entered into a long-term supply contract with Aux Sable Liquid Products to secure additional NGLs to supply our customers in the US Midwest. BP operates one plant in the UK (capacity 1.2bcf/d) and we are a partner (33.33%) in a gas processing plant in Egypt with 1.1bcf/d of gas processing capacity. We have also secured access to the Abibes LPG terminal in Cremona, northern Italy. During the first quarter of 2006, a memorandum of understanding was signed with EGAS for a feasibility study covering construction of a greenfield NGLs plant in the West Nile Delta, Egypt, that would process gas from future BP equity and third-party production offshore. This excerpt taken from the BP 20-F filed Jun 13, 2006. Natural Gas Liquids
BP is one of the leading producers and marketers of NGLs, based on sales volumes, in North America. NGLs, which are produced from gas chiefly sourced out of Alberta, Canada and the US onshore and Gulf Coast, are used as a heating fuel and as a feedstock for refineries and chemicals 66 plants. NGLs are sold to petrochemical plants and refineries, including our own, at prevailing market prices. In addition, a significant amount of NGLs are marketed on a wholesale basis under annual supply contracts that provide for price redetermination based on prevailing market prices. We operate natural gas processing facilities across North America with a total capacity of 8.7 bcf/d. These facilities, which we own or have an interest in, are located in major production areas across North America including Alberta, Canada, the US Rockies, the San Juan basin and coast of the Gulf of Mexico. We also own or have an interest in fractionation plants (which process the natural gas liquids stream into its separate component products) in Canada and the USA, and own or lease storage capacity in Alberta, Eastern Canada, the US Gulf Coast and mid-continent regions. In the UK we operate one plant and we are a partner (33.33%) in a gas processing plant in Egypt which completed construction at the end of 2004. Additionally, the Group established a trading activity in 2002 to augment certain of our activities in the US. This activity is responsible for delivering value across the overall NGL supply chain, sourcing optimal feedstock to our processing assets and securing marketing activities with flexible and competitive supply but primarily to create incremental trading gains through using storage capacity, inventory and commodity derivative contracts by arbitraging seasonal price differences. To achieve this objective, a range of commodity derivative contracts including over-the-counter options, swaps and physical forward contracts are used. Over-the-counter contracts include a variety of options and most importantly swaps. These swaps price in relation to a wider set of products than can be achieved through the exchanges where counterparties contract for differences between, for example, fixed and floating prices. The contracts we use are similar to those for gas and power which are described in greater detail within the Marketing and Trading section above. Additionally, physical NGLs can be traded forward by using specific over-the-counter contracts. Over-the-counter forward sales contracts are used by BP to both buy and sell the physical commodity as well as a hedging tool and to arbitrage between the different markets. The scale and application of these contracts as described has increased from 2002 to 2004 as this new activity has become established. This excerpt taken from the BP 20-F filed Jun 30, 2005. Natural Gas Liquids
BP is one of the leading producers and marketers of NGLs, based on sales volumes, in North America. NGLs, which are produced from gas chiefly sourced out of Alberta, Canada and the US onshore and Gulf Coast, are used as a heating fuel and as a feedstock for refineries and chemicals plants. NGLs are sold to petrochemical plants and refineries, including our own, at prevailing market prices. In addition, a significant amount of NGLs are marketed on a wholesale basis under annual supply contracts that provide for price redetermination based on prevailing market prices. We operate natural gas processing facilities across North America with a total capacity of 8.7 bcf/d. These facilities, which we own or have an interest in, are located in major production areas across North America including Alberta, Canada, the US Rockies, the San Juan basin and coast of the Gulf of Mexico. We also own or have an interest in fractionation plants (which process the natural gas liquids stream into its separate component products) in Canada and the USA, and own or lease storage capacity in Alberta, Eastern Canada, the US Gulf Coast and mid-continent regions. 61 In the UK we operate one plant and we are a partner (33.33%) in a gas processing plant in Egypt which completed construction at the end of 2004. | EXCERPTS ON THIS PAGE:
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