CNPC, Cheniere Pact for LNG
China’s state-owned oil company, China National Petroleum Corporation (CNPC), and U.S. independent energy company Cheniere Energy have signed a Memorandum of Understanding (MoU) for long-term sales and purchases of liquefied natural gas (LNG), Reuters reported.
The report quoted U.S. State Department saying that the deal between the two companies was signed during president Trump’s first state visit to China. Neither companies disclosed details of the transaction.
According to CNPC, the agreement would strengthen its cooperation with Cheniere in regards to the latter’s liquefaction and export project in the Gulf of Mexico.
Cheniere is owner and operator of the first LNG export terminal in the U.S., Sabine Pass in Louisiana. It is also building the Corpus Christi LNG export facility on the U.S. Gulf Coast that is planned to have a 23 mtpa production capacity.
CNPC is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers and a globally reputed contractor in engineering construction, with businesses covering petroleum exploration & production, natural gas & pipelines, refining & marketing, oilfield services, engineering construction, petroleum equipment manufacturing and new energy development, as well as capital management, finance and insurance services.