EnergyWatch

ExxonMobil invests billions in Chinese LNG market

ExxonMobil bridges its billion dollar investment in LNG production around the world with a new import terminal in China, Reuters reports. The american company will also initially end up sidestepping tariffs, the media bureau writes.

Photo: NIELS HOUGAARD/POLFOTO

Oil major ExxonMobil is planing to build an import terminal for liquefied natural gas, LNG, in China, the world's fastest growing market for the alternative fuel.

The company's first terminal on the mainland will be for storage and distribution, and the plan is to build a bridge between the Chinese market and the US company's billions of dollars invested in LNG production in countries such as Mozambique and Papua New Guinea.

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