China’s Sinopec Signs Huge Gas Deal

Reuters reports that Sinopec (HKG:0386) signs gas purchase agreement, worth around $85 billion.

The market news is quoted as saying:

Sinopec will pay $1.5 billion for the stake in the Australia Pacific liquefied natural gas (LNG) project, completing a preliminary deal agreed in February with project developers ConocoPhillips (COP.N) and Australia’s Origin Energy (ORG.AX).

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