According to Xinhua News Agency, China National Offshore Oil Corp. (CNOOC) announced on Wednesday that it had signed an agreement with United Kingdom-based BG Group involving a liquefied natural gas (LNG) development project in Queensland, Australia. Under the agreement, CNOOC would buy 3.6 million tonnes per annum (mtpa) of LNG for 20 years from the start-up of the Queensland Curtis LNG Project in Australia, which is being developed by the BG Group.

CNOOC is China's thrid largest petroleum company, and the largest offshore oil and gas producer. It has built four LNG receiving terminals in the coastal provinces of Guangdong, Fujian and Zhejiang provinces and in Shanghai.  It is listed in HKSE and NYSE (NYSE: CEO, HKSE: 0883).