Sinopec, Apache eye stakes in Canada LNG project

China’s largest refiner Sinopec launched talks with US-based oil-and-gas producer Apache (APA.NYSE) to buy a minority stake in a Canadian LNG project on the country’s Pacific coast, The Wall Street Journal reported, citing anonymous sources. The LNG project, known as Kitimat, is one of several LNG projects that China Petrochemical is looking at in the region, one source said. The Chinese company’s management team has yet to authorize the investment, and it could select another Canadian LNG project, one source said. Apache in February upped its stake in Kitimat from 40% to 50%, which valued the project at $4.05 billion.