BP, Shell Likely to Sign Major Energy Deals With China

BP and Shell are expected to sign major energy deals with China on Tuesday, reports Sky News.

The deals are expected to be inked during a three-day visit to the UK by Li Keqiang, the Chinese Premier.

According to Sky News BP would announce a long-term five billion pound deal to supply LNG to China while Shell is likely to unveil cooperation agreement with CNOOC in the field of LNG and other energy project around the world.

BP's agreement with Beijing is expected to involve supplying China with LNG from projects globally, and will mark one of the company's largest deals to date in the world's second-largest economy, says Sky News.

The deals with BP and Shell are expected to account for a significant chunk of roughly 18bn pounds of deals signed between the UK and China during Premier Li's visit.