BP to sign LNG supply deal with CNOOC

Comment on this story
IOL pic jun17 bp chief bob dudley Reuters BP chief executive Bob Dudley

Moscow - Oil major BP will sign a deal worth around $20 billion later on Tuesday to supply China National Offshore Oil Corporation (CNOOC) with liquefied natural gas (LNG), BP Chief Executive Bob Dudley said at a conference in Moscow.

Dudley said the agreement between the two companies would be signed in London, as British Prime Minister David Cameron is due to announce a series of trade deals to coincide with the arrival of the Chinese Premier Li Keqiang for a three-day visit.

“It is a 20-year supply agreement on LNG. It is a fair price for them and a fair price for us. It is a good bridge between the UK and China in terms of trade,” Dudley said.

BP already supplies CNOOC with LNG from Indonesia. - Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines