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China and BP sign £11.8bn gas trade deal
Zone(s): UK, China ¦ Sector(s): Gas
[18 June 2014, City A.M.] BP yesterday confirmed a £11.78bn deal to supply the China National Offshore Oil Corporation (CNOOC) with 20 years’ worth of liquefied natural gas (LNG).
BP chief executive Bob Dudley said it was “a fair price for them and a fair price for us” in a deal that coincides with the state visit to the UK by Chinese Premier Li Keqiang.