Skip to comments.China, ExxonMobil discuss $10 billion investment in Guangdong: state TV
Posted on 09/11/2018 12:23:46 AM PDT by granada
BEIJING (Reuters) - Chinese officials and executives of ExxonMobil Corp discussed a $10 billion investment by the U.S.-based firm in the southern province of Guangdong, Chinese state television reported on Friday.
The state TV report, during its summary of a meeting between Chinese Premier Li Keqiang and ExxonMobil Chief Executive Darren Woods, quoted Li as saying he welcomed Exxon's large investment in China.
The report said China and Exxon discussed the $10 billion investment but did not attribute the information to any direct source.
Exxon said on Thursday it signed a preliminary deal to build a petrochemical complex and invest in a liquefied natural gas terminal in China. It said the investment would be worth billions of dollars but did not give a specific figure.
(Excerpt) Read more at finance.yahoo.com ...
Let me guess - it includes a massive transfer of fracking technology.
Actually, I take back my earlier comment. This does not seem to an investment in production in China, but rather an LNG port and petrochemical plant - which could be used to import American LNG into China, and process it into products for the Chinese market.
I hope post 3 is correct. If the money going to Red China builds an LNG import port for our US gas, we get some money back for the gas going there.
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