Chinese firms to help build Alaska LNG pipeline

China's oil major China Petroleum and Chemical Corp, Bank of China and CIC Capital Corp have agreed to help develop Alaska's liquefied natural gas sector by providing assistance to building a pipeline project.

The three State-owned companies signed a joint development agreement with Alaska Gasoline Development Corp and the State of Alaska on Thursday to jointly build an integrated LNG system including a long-distance gas pipeline connecting a gas treatment plant at the North Slope of Alaska with a liquefaction plant in Nikiski Bay in south-central Alaska. The system, rated at 20 million metric tons a year of production, would include other interconnecting facilities.

Sinopec said it will participate in later commercial discussions on the Alaska LNG project to contribute to China-US energy cooperation.