Energy Projects Receive Boost From China During Trump's Asia Trip
Two big energy deals account for more than half the $250 billion in trade agreements with China that President Trump announced during his trip to Asia in early November: in West Virginia, $83.7 billion in shale-gas development and chemical manufacturing and, in Alaska, $43 billion to develop a pipeline and facility to export liquefied natural gas to China. But both agreements, like most of the others signed or witnessed by the president during the trip, are nonbinding.
West Virginia said planning is underway for China-related projects focused on power generation, chemical manufacturing and underground storage of natural gas. The projects are expected to be built in phases over the next 20 years, a state agency said.
The Alaska agreement would include Chinese support of a gas treatment plant on Alaska’s North Slope, an 800-mile pipeline to the coast and a liquefaction plant to export LNG. ConocoPhillips, ExxonMobil and Shell abandoned the project last year. Alaska Gov. Bill Walker (I) said most of the LNG would go to China. China also signed agreements with Cheniere Energy and Delfin for LNG from the Gulf Coast.
Officials also announced a five-year agreement for Caterpillar Inc. to supply mining equipment to China.