China is currently undergoing an energy crunch, with some analysts saying that shortages could lead the country to have to build more coal plants. Sabel also said that given China's current demand for alternative energy, deals such as this one serve a long-term purpose to reduce the impact of global climate change and carbon emissions. "Relative to some of the international projects, more than 50%." producers traditionally, we've probably shaved 30% off the cost," he said. One of Venture Global's priorities has been to try to control production efficiencies, Sabel said, adding it was a factor in making the Sinopec deal happen. liquefied natural gas to China - and at 4 million metric tons each year, it's twice the size of a deal that Sinopec reached with Qatar earlier this year. The new Venture Global-Sinopec contract will double imports of U.S. " reflects the shared mission of Sinopec and Venture Global in promoting the global energy transition," Sinopec President Ma Yongsheng said in a statement, stressing it's a significant step in achieving carbon emission and neutrality goals. "That's what our good friends and our customers at Sinopec in China were looking for." "We've relentlessly focused on delivering the lowest possible delivered clean LNG to the market," Sabel added. ![]() The deal also makes Venture Global the top American LNG exporter to China. The company will deliver the product from its plant in Plaquemines, Louisiana. Personal Loans for 670 Credit Score or Lower ![]() Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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