Friday, 10 November 2017 13:03

Sinopec inks US$43B LNG plant proposal in Alaska

484 Alaska

China Petrochemical Corp., known as Sinopec Group, signed a joint development agreement with Alaska Gasline DevelopmentCorp. on the plan to pipe gas from the state’s northern shore to a proposed liquefaction export terminal in the south. The state of Alaska, China Investment Corp. and the Bank of China Ltd. also signed the agreement. The pact was announced among $250 billion in U.S.-China deals unveiled this week during President Donald Trump’s visit to Beijing. This announcement comes just three and a half months after Petronas pulled the plug on its  $36 billion Pacific NorthWest LNG project, in which Sinopec held a 15% stake.  

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