Sinopec raises share
Source: Bloomberg News |
January 21, 2012, Saturday
|
Print Edition
Print Edition
CHINA Petrochemical Corp has signed agreements to raise its stake in an Australian liquefied natural gas project led by ConocoPhillips and Origin Energy Ltd and lift its purchases of the fuel.
China Petrochemical, or Sinopec Group, will increase its holding in Australia Pacific LNG Pty to 25 percent from 15 percent, the Chinese firm said in an e-mailed statement yesterday. It will buy an extra 3.3 million tons of LNG a year for 20 years, taking its total commitment to 7.6 million tons a year.
Financial terms of the deal weren't disclosed in the statement.
China Petrochemical, or Sinopec Group, will increase its holding in Australia Pacific LNG Pty to 25 percent from 15 percent, the Chinese firm said in an e-mailed statement yesterday. It will buy an extra 3.3 million tons of LNG a year for 20 years, taking its total commitment to 7.6 million tons a year.
Financial terms of the deal weren't disclosed in the statement.
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