BP, Cnooc to sign $20B LNG supply deal

|About: BP p.l.c. (BP)|By:, SA News Editor

BP (BP) will sign a liquefied natural gas supply deal worth approximately $20B with Cnooc (CEO) later today.

"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," says BP CEO Bob Dudley.

BP already supplies Cnooc with LNG from Indonesia.