Petronas in Talks with Sinopec for Share of Petronas’s B.C. LNG Export Terminal

Reuters reports that Petronas is negotiating to sell to China Petroleum & Chemical Corporation (Sinopec) at least a 10% interest in Petronas’s proposed $20 billion LNG export facility on Lelu Island in Port Edward, near Prince Rupert, British Columbia.  The negotiations with Sinopec follow sale of a 10% interest in the project to Japan Petroleum Exploration Company and reported discussions with Indian Oil Corporation Limited regarding the potential acquisition of an additional 10% interest.

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