Bloomberg News

Sinopec Group to Raise Stake in Australia Pacific LNG to 25%

January 23, 2012

Jan. 20 (Bloomberg) -- China Petrochemical Corp. signed an agreement to buy additional 3.3 million tons of liquified natural gas a year for 20 years from Australia Pacific LNG Pty Ltd., the Chinese company said in an e-mailed statement today.

China Petrochemical, also called Sinopec Group, agreed to buy additional shares in Australia Pacific LNG and its share holdings in the Australian company will rise to 25 percent from 15 percent, it said.

To contact Bloomberg News staff for this story: Winnie Zhu in Shanghai at wzhu4@bloomberg.net

To contact the editor responsible for this story: Shiyin Chen at schen37@bloomberg.net


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