China’s state-owned energy giant Sinopec is in talks with Pembina Pipeline Corporation over buying a stake in a planned Canadian LNG project and an offtake agreement for LNG from the facility on the Pacific coast, Reuters reported on Monday, quoting unnamed sources familiar with the development. Pembina is a partner in the proposed Cedar LNG floating LNG export facility in Kitimat, British Columbia, alongside the Haisla Nation.
For its part, Sinopec, the world’s largest refiner by capacity, has already signed a long-term LNG offtake deal with Qatar and has obtained a 5% stake in the development of the huge North Field East NFE expansion project. According to Reuters’ sources, Sinopec is currently in discussions to buy 1.5 million tons of Cedar LNG production per year under an offtake deal with Pembina.
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