Sinopec plans to conclude a 20-year agreement with Cheniere on LNG supplies


The Chinese petrochemical corporation Sinopec expects a positive settlement of the trade dispute between the United States and China, which will allow it to conclude an agreement with American Cheniere Energy to supply liquefied natural gas for a period of 20 years, Reuters writes, citing informed sources. Commercial terms of the transaction were agreed by the companies at the end of 2018. The transaction value is not reported, although it is known that Sinopec plans to purchase from Cheniere about 2 million tons of LNG per year, starting in 2023. The signing of the deal is hampered by ongoing negotiations between the two countries. Reports that the United States and China are close to signing a trade agreement allow us to expect that a deal on the supply of US LNG will be concluded soon.

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