BP cuts pipeline gas trading team to focus on LNG
BP is dismantling its pipeline gas trading team to focus on liquefied natural gas expansion. The shift follows a European pivot away from Russian supplies.
BP PLC will cut its pipeline gas trading team and lay off around 20 employees to prioritize liquefied natural gas (LNG) operations. European energy markets pivoted away from Russia pipeline gas toward LNG after 2022. The restructuring reflects declining pipeline volumes in Europe and BP's focus on reducing debt through core fossil fuel trading.
BP will fold its remaining pipeline staff into its fast-growing LNG division, people familiar with the matter said. This consolidation reflects a permanent change in European energy flows as the region replaces fixed infrastructure with flexible sea-borne cargoes. BP declined to comment on the specific restructuring plan.
