Exxon Moves Ahead on China Projects as Trade Tensions Simmer
- Signs agreements on petrochemicals plant, LNG import terminal
- U.S. poised to impose fresh round of tariffs on Chinese goods
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Exxon Mobil Corp., the U.S. energy behemoth, signed deals to move ahead on a proposed multibillion-dollar petrochemical project and a gas import terminal in southern China, contrasting with trade tensions between the two nations that may escalate this week.
The Irving, Texas-based company signed cooperation framework agreements with the Guangdong provincial government, it said in a statement Thursday, following a preliminary deal in November. The chemical complex, which is expected to start in 2023, remains subject to a final investment decision, it said, without providing cost details.