BP (BP.NYSE, BP.LON) on Tuesday signed a US$20 billion deal with China to supply liquefied natural gas to China National Offshore Oil Corp., Bloomberg reported. The 20-year agreement will see 1.5 million tons of LNG shipped to China each year from 2019, BP said in a statement. “China knows the challenges it faces in meeting the energy needs that underpin its economic growth,” said David Elmes, who heads the Global Energy Research Network at the University of Warwick. China is moving to gas to contain the pollution that comes from dependence on coal-fired plants, he said.
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