bit.ly/Alpha10Dec - WOW, if this is true, MY DREAM CAME TRUE: - Sinopec (SNP -1.4%) reportedly wants to sell some long-term liquefied natural gas import deals as a slowing Chinese economy and cheaper retail gas makes LNG imports unprofitable, signalling the end of a five-year boom fueled by rising Chinese demand. - Reuters reports that SNP is planning to offload LNG from new export plants in Australia and potentially Papua New Guinea to BP, amid growing unease over the scale of an expansion that has seen the construction of 11 LNG import terminals since 2006 with plans for 25 more. - SNP also may sell excess volumes coming from its stake in Exxons (NYSE:XOM) Papua New Guinea LNG, in which it invested in 2009 when LNG prices were low but Chinese demand was expected to grow for decades to come.
Posted on: Thu, 11 Dec 2014 00:26:12 +0000
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