CNOOC signs liquefied natural gas supply deal

Chinese offshore oil and gas company, CNOOC, has signed a multi-billion dollar contract to buy liquefied natural gas from an Australian energy project operated by BG Group. The deal involves the delivery of 3.6 million tons of gas per year, for 20 years. It formalizes a preliminary agreement reached last May. It's Australia's biggest ever company-to-company contract. Shipments are due to begin in 2014, once final government approval is reached.

Chinese offshore oil and gas company, CNOOC, has  signed a multi-billion dollar contract to buy  liquefied natural gas from an Australian energy  project operated by BG Group.