Sinopec has bought a 15% stake in the Australia Pacific LNG joint venture owned by Origin Energy and ConocoPhillips, The Wall Street Journal reports. Sinopec has paid $1.765 billion for the stake. The transaction includes the sale of 4.3 million metric tons of liquefied natural gas annually to Sinopec, commencing in 2015. ConocoPhillips’ and Origin Energy’s ownership interest in the project has been reduced to 42.5% each.
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