US energy giant ExxonMobil said on Wednesday it has signed a preliminary deal to build a petrochemical complex and invest in a liquefied natural gas (LNG) import terminal in China.
The agreement worth billions of dollars with the southern Guangdong provincial government, includes an ethylene plant, two polyethylene production lines and two polypropylene lines in the coastal city of Huizhou, the company said in its statement.
Exxon also said it agreed to participate in a project to build an LNG terminal in Huizhou and to supply the chilled fuel for the facility, without giving further information.
Additionally, the company is evaluating other chemicals manufacturing projects in Asia to help meet expected demand growth in the region.
ExxonMobil expects to grow chemicals manufacturing capacity in Asia Pacific and North America by about 40 percent, it said.
Energy company RWE and German LNG Terminal, the joint venture driving forward Germany’s first LNG terminal in Brunsbüttel, said on Thursday they have reached an agreement for a “considerable” part of the terminal’s capacity on a long-term basis.
Dutch companies Gasunie and Vopak and Germany’s Oiltanking formed last year German LNG Terminal, under which they plan to build and operate the LNG terminal in Brunsbuettel in northern Germany.
More to follow…
