The Beijing-headquartered state company will also offtake the equivalent of 15% of the project’s export volumes, or 1.8 million tonnes per annum.
Additionally, Sinopec has signed heads of agreement to purchase another 3 mtpa over 20 years from Petronas, most of which will come from Pacific NorthWest LNG.
Sinopec’s entry is the fourth at the two-train project after India Oil Corporation and Japan Exploration bought 10% interests and Brunei National Petroleum bought an initial 3% with an option for another 2%.
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