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2019-10-02 11:40:00

U.S., CHINA LNG INVESTMENT: $3.59 BLN

U.S., CHINA LNG INVESTMENT: $3.59 BLN

PLATTS - US-based Sempra LNG has entered into a memorandum of understanding with China Three Gorges Corporation, or CTG, for the supply of LNG -- the first US-China LNG agreement in 12 months following retaliatory tariffs imposed by the Chinese Ministry of Commerce on US imports last year -- according to a statement released by Sempra Energy on Monday.

Parent company Sempra Energy also announced an agreement to sell an 83.6% stake in the Peruvian Luz del Sur for $3.59 billion in cash to China Yangtze Power International, or CYP, a subsidiary of CTG, a company statement showed.

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