Beijing: China Petroleum & Chemical Corp, or Sinopec, will soon sign a long-term deal to buy liquefied natural gas from the Exxon Mobil Corp-led LNG project in Papua New Guinea, a company official said Wednesday.
The import of 2 million metric tons a year under the contract will feed an LNG terminal Sinopec is constructing in the eastern Shandong province, scheduled to come online in 2014, the official told Dow Jones Newswires, declining to be identified.
Sinopec is also working on building a LNG terminal at the Huangmao Island in Zhuhai to supply the fuel to neighboring Macao. The plan is yet to secure official approval from the central government, due at least in part to the lack of a long-term gas-supply contract. [15/10/09]
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