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BG Group signs $1.93 bln LNG supply, equity deal with CNOOC
May 6, 2013 / 9:21 AM / 5 years ago

BG Group signs $1.93 bln LNG supply, equity deal with CNOOC

PERTH, May 6 (Reuters) - BG Group said on Monday it has signed a binding $1.93 billion agreement with Chinese oil firm CNOOC to supply liquefied natural gas (LNG) and for an equity stake in BG’s Queensland Curtis LNG project in Australia.

“BG Group now has total committed volumes to China of 8.6 mtpa (million tonnes per annum) which will make the group the largest supplier of LNG to the world’s fastest growing energy market,” the company said in a statement.

The two companies had struck a preliminary deal on the LNG supply and equity stake last year. The agreement was to have been finalised in the first half of 2013.

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