CHINA National Offshore Oil Corp has signed the first major supply deal with BG Group and agreed to take a stake in its $8b gas export plans.
The deal is a positive for the four parties trying to build multi-billion-dollar LNG processing plants at Gladstone to export Queensland's vast coal seam gas reserves.
The agreement shows that there are buyers for the yet-to-be proven CSG-to-LNG plants, despite suggestions from the likes of Woodside and Oil Search that there could be trouble selling the unconventional gas.
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