Shell, PetroChina in 20-Year Gas Deal

SHANGHAI, China -- Royal Dutch Shell (RDS.A Quote) and PetroChina(PTR Quote) have signed an agreement for China to buy up to 40 million tons of liquefied natural gas over 20 years, Shell said Tuesday.

The deal, signed in Beijing on Monday, stems from a conditional agreement by the two companies last year. Prices for the LNG and the amount of investment involved weren't disclosed.

China has continued to lock in energy supplies to help meet long-term demand even as the global financial crisis crimps demand for resources. ...