Chinese companies agree to develop LNG in Alaska

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China’s President, Xi Jinping

China’s top state oil major, Sinopec, one of
the country’s top banks and its sovereign wealth fund have agreed
to help develop Alaska’s liquefied natural gas sector.

This is part of fall-outs of U.S. President Donald Trump’s visit, the U.S. government said on Thursday.

Alaska Gasline Development Corp (AGDC), the State of Alaska, Sinopec, China Investment Corp and the Bank of China have signed an agreement to advance (LNG) in Alaska.

The agreement will involve investment of up to 43 billion dollars, create up to 12,000 U.S. jobs during construction, reduce the trade deficit between the United States and Asia by 10 billion dollars a year, and give China clean energy.

Read More…..PM News