Sinopec Buys Stake in Asia Pacific LNG

摘要

Sinopec signed two agreements Thursday, in which the Chinese state firm will pay US$1.5 billion for a 15% equity stake in Australia Pacific LNG (APLNG) - owned by Australia's Origin Energy and ConocoPhillips. Sinopec will also become APLNG's first foundation buyer with purchases of 4.3 million tons per year for 20 years. The deals follow a heads of agreement signed two months ago (IOD Feb.28,p7).