Sinopec, Petronas agree on LNG project deal

BEIJING, Apr 30 (Xinhua): Sinopec and its partner China Huadian Corporation have reached a deal to buy liquefied natural gas (LNG) from a Canada-based LNG project operated by Petronas of Malaysia, Sinopec announced on Wednesday.
Sinopec and its Chinese partner will acquire a 15-per cent stake in the Pacific Northwest LNG Project (PNW LNG), which will allow them 1.8 million cubic meters of LNG annually for 20 years, the company said.
Sinopec will have a 10-per cent stake and China Huaidan Corporation will have 5 per cent, the company said.