Tuesday, March 23, 2010

BG Group (LSE:BG) $80 Billion Deal with China National Offshore Oil Corp

BG Group in Huge Natural Gas Deal with China

BG Group (LSE:BG) is about to sign a major deal worth from $50 billion to up to $80 billion with China National Offshore Oil Corp for a liquified natural gas agreement.

If prices are close to last years' prices, the deal would be close to the higher end of $80 billion.

This is why Australia and China have been working hard behind the scenes to patch up their relationships, as this follows a deal with PetroChina and Royal Dutch Shell for Arrow Energy, also based in Australia for $3.4 billion. That was for coal-seam gas.

BG Group in Huge Natural Gas Deal with China

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