CNOOC Inks $2B Deal To Up Stake In BG Group LNG Project

Law360, New York (May 6, 2013, 5:02 PM EDT) -- China National Offshore Oil Corp. has agreed to buy a stake in BG Group PLC's Australian liquefied natural gas project for $1.9 billion, as well as add to an existing long-term supply agreement for an undisclosed sum, BG Group announced Monday.

Per the deal, CNOOC will up its 10 percent stake in the Queensland Curtis LNG project to a 50 percent share. It has also signed up for an additional 5.5 million tons of fuel a year, building on an earlier 3.9 million ton per year...
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