Subscribe to our news feedOil and gas recruitment: Sinopec secures LNG from PNG
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Published on Saturday 5th December 2009
A new deal has been signed that will not only secure a 20year supply of liquefied natural gas (LNG) to China, but may also result in oil and gas recruitment opportunities. Sinopec, Chinas second largest oil and gas company has secured an agreement to receive LNG from ExxonMobils Papua New Guinea (PNG) Project. As a result, the country is expected to purchase two million tonnes of LNG every year. Sinpoec said the concord will allow it to meet the rising demands of its customers, with fast economic growth outstripping the supply of resources, according to reports. The gas will be transported to its new LNG terminal in the northeastern province of Shandong. ExxonMobil official Ron Billings said the development is a key milestone in the PNG project. In addition, Wang Zhigang, senior vicepresident of Sinopec, commented: "This LNG terminal will provide longterm and reliable clean natural gas resources to the Shandong market." ExxonMobil recently predicted that there will be a surge in demand for LNG in the coming years. Tom Cordano, president of LNG at the firm was cited by Reuters as saying it will eventually make up ten per cent of global gas demand. 
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