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China Steps Toward U.S. LNG Deal as Sinopec Inks Alaska Pact

  • Sinopec, Bank of China, CIC sign JDA with Alaska Gasline
  • Alaska LNG project to pipe natural gas across state for export
Bagging An Alaska Elephant Could Revive North Slope Oil Industry
Photographer: Daniel Acker/Bloomberg
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China took steps toward its first investment in U.S. liquefied natural gas as one of its energy giants agreed to advance a $43 billion project that’s been years in discussion and already sidelined by American majors.

China Petrochemical Corp., known as Sinopec Group, signed a joint development agreement with Alaska Gasline Development Corp. on the plan to pipe gas from the state’s northern shore to a proposed liquefaction terminal in the south, where it would be shipped abroad. The state of Alaska, China Investment Corp. and the Bank of China Ltd. also signed the agreement.