Sinopec seeks to invest in SL’s LNG sector

Agrees to sell SL products in convenient stores attached to its service stations in China   

• This is in addition to its proposal to invest in running filling stations in Sri Lanka

By Kelum Bandara  

China Petroleum and Chemical Corporation or Sinopec, one of the largest oil companies in the world, had submitted a proposal for investment in an LNG (Liquefied Natural Gas) plant in Sri Lanka, an official said.   

This is in addition to its proposal to invest in running filling stations in Sri Lanka.  

Sri Lankan Ambassador to China Dr. Palitha Kohona told Daily Mirror that the company submitted its proposal for investment and the process could be expedited if there was quick response from the Sri Lankan side. 

 
Earlier, the foreign media reported that QatarEnergy signed a 27-year deal to supply China’s Sinopec with liquefied natural gas, the longest such agreement so far, as volatile markets drive buyers to seek long-term deals.  

Besides, the ambassador said Sinopec signed an agreement to sell Sri Lankan products such as confectionery and coconut products in convenient stores attached to service stations run by it in China.  

It has 27,000 such service stations. 

• The process could be expedited if there was quick response from the Sri Lankan side