China signs big Qatar LNG deal
China yesterday signed two multibillion-dollar long-term deals to buy liquefied natural gas from Qatar, marking a milestone in Asia's evolution as the hottest market for the fuel. PetroChina struck a deal to buy 3m tonnes of LNG a year over 25 years from 2011 with Qatar and its partner, Royal Dutch Shell. Analysts said the deal could could be worth as much as $60bn. CNOOC, China's primary LNG importer, also signed a framework supply agreement. Al-though it is yet to be formalised in a binding contract, it is for 2m tonnes a year from 2009.