CNOOC partners with BG Group

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    China National Offshore Oil Corporation (CNOOC) has entered into key purchase agreements with UK-based BG Group. It has agreed to a 20-year liquefied natural…

    China National Offshore Oil Corporation (CNOOC) has entered into key purchase agreements with UK-based BG Group. It has agreed to a 20-year liquefied natural gas (LNG) purchase agreement and LNG project agreements for the QCLNG Project in Queensland, Australia.

    The LNG purchase agreement will supply 3.6 million tonnes of LNG per year to CNOOC over a 20-year period. Under the purchase agreement terms, CNOOC will be supplied with LNG manufactured at the Queensland Curtis LNG facility on Curtis Island. Additionally, BG Group may supply CNOOC with LNG from its global portfolio.

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