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China Eyes U.S. Energy After Inking $20 Billion in Deals

  • CNPC chief says company seeking U.S. supply, LNG investments
  • Deals with Russia, Saudi to be signed in Beijing: CNPC’s Wang
Bloomberg business news

CNPC's Wang Sees Oil at $50 in 2017

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China is setting its sights on U.S. energy as a growing reliance on imports forces it to look beyond traditional suppliers, according to the head of the country’s biggest oil and gas company.

China National Petroleum Corp. will import more crude oil and natural gas from the U.S. and will consider participating in America’s growing liquefied natural gas export industry, Chairman Wang Yilin said in an interview Sunday with Bloomberg TV on the sidelines of the Belt and Road Forum in Beijing. The energy giant will sign $20 billion in deals during the two-day event, a meeting of countries involved in China’s initiative to connect Europe, Asia and Africa through infrastructure and investment.