$18 Billion LNG Deal Expected Between Cheniere Energy and China's Sinopec

The Wall Street Journal and S&P Global Platts reported that the Cheniere Energy is close to signing an $18 billion long-term LNG supply deal with China's state-run oil company Sinopec.

The Journal reported that the deal could be announced end of March as part of a broader US-China trade deal at a summit between U.S. President Donald Trump and Chinese President Xi Jinping.

Recently FERC gave Cheniere the green light to put the first production unit at its Corpus Christi LNG unit into service and begin exports.

Cheniere signed two LNG supply deals with PetroChina International Co. a year ago and weeks after Trump’s trade mission to China in November 2017.

The Wall Street Journal also reported that the deal with Sinopec could also include financing from state-owned Chinese banks for Cheniere to further expand its export capacity.

Source:
chron