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Total signs LNG supply agreement with CNOOC, ups deliveries to China

2:44 AM MDT | March 27, 2014 | Natasha Alperowicz

Total and China National Offshore Oil Corp. (CNOOC; Beijing) have signed a cooperation agreement covering liquefied natural gas (LNG). Total, under the existing 15-year contract, has been supplying China with up to 1 million m.t./year of LNG since 2010. The parties, in addition to agreeing on a price review covering the existing contract, have set a framework for an additional supply of 1 million m.t./year of LNG and agreed to cooperate throughout the LNG value chain.   Total already supplies more than 8% of the Chinese market, with 5 million m.t. of LNG...

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