Exxon to build LNG terminal in China

[Sefko Trafikant + 35]

Exxon Mobil says it signed a preliminary deal to build a multibillion-dollar petrochemical complex and invest in a liquefied natural gas terminal in China, despite trade tensions between the U.S. and China. XOM's agreement with the Guangdong provincial government includes a 1.2M metric tons/year ethylene plant, two polyethylene production lines and two polypropylene lines in the coastal city of Huizhou; the complex, which is expected to start in 2023, remains subject to a final investment decision.

[Stephen + 67]

Do we know details of the ownership structure of chemical plant and LNG investment 

[JohnAtronis + 78]

Just now, Stephen said:

Do we know details of the ownership structure of chemical plant and LNG investment 

not yet. But  Exxon seems to be more aggressive in their project development under the new CEO.

[Joanna + 68]

4 minutes ago, Sefko Trafikant said:

Exxon Mobil says it signed a preliminary deal to build a multibillion-dollar petrochemical complex and invest in a liquefied natural gas terminal in China, despite trade tensions between the U.S. and China. XOM's agreement with the Guangdong provincial government includes a 1.2M metric tons/year ethylene plant, two polyethylene production lines and two polypropylene lines in the coastal city of Huizhou; the complex, which is expected to start in 2023, remains subject to a final investment decision.

The deal could be seen as a goodwill gesture amid a deepening trade war 

[Ajan Bosnjacki + 27]

German chemical giant BASF announced plans in July to invest $10 billion to build China’s first wholly foreign-owned chemicals complex

[Meanwhile + 49]

Good. You can't have return on investment without investment. Others have jumped on the share buyback bandwagon 

[JohnAtronis + 78]

3 hours ago, Sefko Trafikant said:

Exxon Mobil says it signed a preliminary deal to build a multibillion-dollar petrochemical complex and invest in a liquefied natural gas terminal in China, despite trade tensions between the U.S. and China. XOM's agreement with the Guangdong provincial government includes a 1.2M metric tons/year ethylene plant, two polyethylene production lines and two polypropylene lines in the coastal city of Huizhou; the complex, which is expected to start in 2023, remains subject to a final investment decision.

Shame on XOM for diminishing President Trump's efforts to achieve fair trade with China.