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BP signs 20-year deal to supply LNG to China

10:14 AM MDT | June 18, 2014 | Natasha Alperowicz

BP and the China National Offshore Oil Corp. (CNOOC; Beijing) have announced they have signed a heads of agreement to supply up to 1.5 million m.t./year of liquefied natural gas (LNG) over 20 years starting in 2019. BP executive v.p. Dev Sanyal and CNOOC chairman Wang Yilin signed the agreement at London on Tuesday in the presence of UK prime minister David Cameron and Chinese premier Li Keqiang. “This is a significant deal for BP and China, but it also marks a step up in global connectivity in the gas market. This is important for all countries and...

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