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China pumps cash into African floating LNG projects in strategic push


China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa.

China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa.

LONDON: China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested technology in the hope that energy markets will recover by the time they start production in the early 2020s.

Western banks are wary due to the depressed state of the shipping and gas markets, as well as the technical difficulties of pumping gas extracted from below the ocean floor, chilling it into liquid form on a floating platform and transferring it into tankers for export.

Corporate News , Oil & Gas

   

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