“China and Alaska signed an agreement on LNG projects worth $43 billion

Three of the state Corporation of China Thursday signed an agreement with the authorities of the Alaska company Alaska Gasline Development (AGDC) on the implementation on the territory of the American state projects for the liquefaction of natural gas at $43 billion.

On the Chinese side, the agreement involves China Petrochemical Corp. (Sinopec), the state Fund China Investment Corp. (CIC) and Bank of China, said the government of Alaska.

The document was signed during the official visit of the President of the United States Donald trump to China.

According to estimates given by the government of Alaska, the agreement on gas with Chinese companies over time will reduce the US trade deficit in relations with Asian countries $10 billion a year. In 2016, the deficit with China totaled $347 billion.

In addition, the agreement will create up to 12 thousand jobs in the United States for the period of construction.

“In addition to the alignment of bilateral trade, the export of LNG from the US to China will contribute to the efforts of the Chinese side to improve air quality and the transition to a future with lower carbon dioxide emissions due to the shift away from coal in favor of natural gas,” – said the President of the Energy Foundation China, Zhou JI.

Over the last decade, gas consumption in China has increased more than four times, and he ranked third in the world in terms of its imports. Gas consumption from the beginning of 2017 is 18% higher than in the same period last year. The main suppliers of gas to China are Qatar and Australia, is working on supplies of Russian gas through pipelines.

The United States has natural gas reserves in the amount of 330 trillion cubic feet, however, the country does not have enough export capacity, particularly on the Pacific coast.

Alaskan Governor bill Walker since the election in 2014 in favour of the construction of a pipeline with a length of almost 1.3 thousand km for pumping gas from the field North Slope to the port of Nikiski where you will create a terminal for liquefying gas and exporting it. Walker is the only Governor of the United States, accompanying trump during his visit to China.

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