LNG (LIQUIFIED NATURAL GAS)

China moves into Canadian LNG plays

SINOPEC has agreed to acquire a 15% stake of the Petronas-led Pacific Northwest LNG project in British Columbia, Canada, while China National Offshore Oil Corporation has signed a preliminary agreement over joining the BG Group-led Prince Rupert LNG joint venture, also in BC.

According to Canada's Globe and Mail newspaper, Sinopec also signed on to taking 1.8 million tonnes per annum of LNG from the Petronas-operated project for 20 years plus won the option to import a further...

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