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BP will lay off around 20 people on its pipeline gas unit.
BP will dismantle its pipeline gas trading team and prioritize LNG trading operations.
KEY POINTS
- Around 20 employees from BP's pipeline gas unit will be laid off amid this restructuring.
- Remaining pipeline gas staff will be integrated into BP's expanding LNG trading division.
- The move reflects a pivot following Europe's shift from Russian pipeline gas to LNG since 2022.
- BP's renewed focus on LNG aligns with its strategy to cut debt and deprioritize renewables.
COMPANIES
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