Sinopec, Huadian to take combined 15pc stake in Canada LNG project

HONG KONG: China Petrochemical Corp (Sinopec Group) said on Wednesday it and state-owned power group China Huadian Corp have agreed to take a combined 15 percent stake in a liquefied natural gas (LNG) project controlled by Malaysian state oil firm Petronas in Canada.

Sinopec Group will hold 10 percent of the Pacific Northwest LNG project on Canada's Pacific Coast, while Huadian will have 5 percent after the transaction, it said in a statement.

Sinopec Group - parent of Asia's largest refiner Sinopec Corp - said on Tuesday night that it had purchased a 15 percent stake in the project from Petronas.