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Sinopec in Talks for LNG Purchase Agreement & Investing in LNG Project in Canada - Report
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Sinopec is in discussions with Pembina Pipeline, a Canadian provider of energy transportation and midstream services, on a liquefied natural gas (LNG) purchase agreement and an investment in Pembina's Cedar LNG project, Reuters reported, citing sources. Cedar, a joint venture between the Haisla First Nation and Pembina, will be one of the first LNG export terminals in Canada and is expected to be completed in 2028 at a cost of approximately US$4 billion. Sinopec is said to be in discussions with Pembina to acquire the 1.5 million tonnes of LNG produced annually by Cedar under a purchase agreement held by Pembina. Shawn Roth, a spokesman for Cedar and Pembina, said that commercial negotiations with a number of customers are ongoing and that Pembina plans to allocate its capacity to third parties. AAStocks Financial News |
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