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BP signs long-term LNG supply deal with Huadian

BP signs long-term LNG supply deal with Huadian

Report summary

On October 21, BP and Huadian signed a gas sales agreement under which BP will supply China's largest operator of gas-fired power capacity with up to 1 mmtpa over the next 20 years. The deal represents the first long-term contract signed in China without national oil company involvement. While challenges remain in China’s gas market, BP and Huadian have blazed a trail that we expect others will now follow.

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