(Yicai) May 27 -- Several Chinese companies have signed long-term liquefied natural gas supply agreements with overseas energy giants at the 29th World Gas Conference to strengthen their energy security capabilities amid challenges in the global market.

Zhejiang Provincial Energy Group, the energy production and investment vehicle under the Zhejiang State-Owned Assets Supervision and Administration Commission, will purchase up to one million tons of LNG a year from BP, the UK oil major's Chinese arm announced on May 22, citing a 10-year deal they signed at the World Gas Conference.

The 29th World Gas Conference was held in Beijing from May 19 to 23. It was the first time this high-profile event in the global gas industry was held in China, attracting more than 200 domestic and foreign energy companies, Yicai learned.

This LNG supply deal was another milestone in the cooperation between Zhejiang Energy and BP, BP China noted. The pair set up a joint venture to sell LNG in China in 2023. BP completed its first LNG delivery to Zhejiang Energy in October last year.

Guangdong Pearl River Investment Management Group, a Guangzhou-based energy and infrastructure investment company, signed a 15-year LNG sales and purchase agreement with US oil giant ConocoPhillips during the World Gas Conference.

The signing of the agreement is a milestone amid the changing international natural gas market, Pearl River Investment said, adding that the firm will focus on improving the control of natural gas resources and the whole industrial chain to better serve the national energy strategy.

Guangzhou Gas Group also signed a long-term LNG sales and purchase agreement with Swiss commodity trading company Mercuria Energy Group at the conference.

Regional geopolitical conflicts have disrupted the global energy market in recent years. This resulted in many countries listing energy security as their main energy strategy goal, with signing long-term LNG sales and purchase agreements being one of the most common approaches.

For example, after the outbreak of the Russia-Ukraine conflict, China's two major energy companies -- PetroChina and China Petroleum and Chemical Corporation -- each signed a 27-year LNG deal with QatarEnergy to secure four million tons of LNG per year.

Editors: Dou Shicong, Futura Costaglione