Total, China’s CNOOC sign natural gas deal

March 28, 2014

China National Offshore Oil Corporation, the country's largest offshore oil and gas developer, announced on March 27 that it has signed a liquefied natural gas cooperation agreement with Paris-based oil giant Total, China Daily has reported.

Under the terms of an existing 15-year contract, Total has been supplying China with up to 1 million metric tons a year of liquefied natural gas since 2010.

In addition to this existing supply, the two parties have set a framework for an additional supply of 1 million tons a year of liquefied natural gas to further strengthen cooperation throughout the liquefied natural gas value chain between the two companies, according to CNOOC.

Copyright: China Daily, 2014