BP favourite for China gas deal

China is expected this month to announce the winner of a multi-billion dollar gas supply contract. As one of the Chinese energy sector’s longest and hottest competitions draws to a close, the contestant favoured to win also stands to lose the most. Industry analysts tip BP Plc to hit the jackpot: a 20-year deal worth up to USD 500 million annually to supply gas to China’s south. But if it fails, the Anglo-American oil giant would be saddled with a massive gas field in Indonesia that has swallowed hundreds of millions of dollars in investment but lacks a market.

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