OREANDA-NEWS. November 25, 2013. The Chinese Government has increased its interest in southern Queensland's gas fields after signing an agreement with the BG group.

State-owned Chinese National Offshore Oil has increased its equity in BG's tenements in the Surat and Bowen basins from 5 per cent to 25 per cent.

The gas will be piped to the Curtis Island liquefied natural gas plant off Gladstone, for export from next year.

The deal, which also involves increased equity in gas processing infrastructure, is worth USD1.9 billion and has been cleared by regulators.