Sinopec prepares to buy U.S. LNG in case government orders purchase: president GlobeBusiness
China’s Sinopec Corp will make arrangements to purchase liquefied national gas from the United States as soon as they are ordered to do so by the government, Sinopec President Ma Yongsheng told Reuters on Tuesday.
As part of the deal, there would be an $18-billion purchase of natural gas from Houston-based Cheniere Energy Inc, Wall Street Journal reported. Cheniere declined comment.China, the world’s second-largest LNG buyer after Japan, imported just over 2 million tonnes of the super-chilled fuel in the first nine months of 2018, according to Chinese customs.
Top Chinese oil and gas group CNPC last year signed a 20-year deal to buy natural gas from Cheniere through 2043. Sinopec has yet to sign any long-term supply deal with any U.S. supplier.
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