China’s Sinopec Secures Gas from Exxon Mobil in Papua New Guinea

Government-owned Sinopec has agreed to buy two million tonnes of natural gas annually from Papua New Guinea to feed its growing economy:

SinopecEarlier this year another big Chinese energy company, PetroChina Limited, secured a similar deal to buy $41bn (£24.8bn) worth of from Australia… Chinese companies have signed contracts to import oil and gas from the Gulf, Africa, Central Asia and elsewhere.

They are often prepared to consider deals that firms from Western countries might not be so interested in, either because of political considerations, or other logistical difficulties.

Analysts point out that as supplies of oil and gas become more scarce, the Chinese, relatively late entrants into the global effort to secure dwindling resources, often have little choice but to deal with whoever is prepared to talk to them.

See also past CDT posts on and .

SUPPORT CDT

CDT on Twitter

Google Ads 1

CDT EBOOKS

Giving Assistant

Amazon Smile

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.