BP to Sign $20 Billion LNG Deal with China

The Wall Street Journal reported today that BP (NYSE:BP,LSE:BP) has said it will sign a $20 billion deal to supply southeast China with liquified natural gas. Though the long term deal pales in comparison to the recent $400 billion gas deal signed with Russia, it could still be encouraging for other LNG producers hoping to send production to markets in China.

As quoted in the publication:

Speaking to reporters at the World Petroleum Congress, Bob Dudley said the 20-year deal will be signed with Chinese state-owned CNOOC in London in front of British Prime Minister David Cameron and Premier Li Keqiang during the Chinese leader’s three-day visit to Britain this week.

 Click here to read the full Wall Street Journal article.

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