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China wins stake in British Nuclear project

18 Jun 2014
China has been offered a decisive stake in the next stage of Britain’s energy and transport infrastructure as Chinese companies won the right to own and operate a nuclear power station.

The agreements were among the trade deals worth £14 billion agreed with Beijing during the visit of the Chinese premier Li Keqiang.

The government has received criticism on the sensitive topic of nuclear power but the body has responded by explaining that it part of a wider agreement to tackle climate change – a joint statement signed by Britain and china on climate change.

The nuclear power project, Hinkley Point C, is the UK’s first nuclear station in a generation, and Energy secretary, Ed Davey has said that the Chinese interest in taking forward investment is welcome given the boost to low carbon electricity, energy security and jobs.

There were also major deals in energy. An £11.8bn BP gas supply contract was one of a series of deals unveiled by major UK firms during Li's visit.

The deal will provide state-owned China National Offshore Oil Corporation (CNOOC) with liquefied natural gas for 20 years.

Royal Dutch Shell extended an agreement with CNOOC to work on energy projects around the world, including LNG.