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UPDATE 1-Chinese companies agree to develop LNG in Alaska as Trump visits

UPDATE 1-Chinese companies agree to develop LNG in Alaska as Trump visits
From Reuters - November 8, 2017

BEIJING (Reuters) - Chinas top state oil major Sinopec, one of the countrys top banks and its sovereign wealth fund have agreed to help develop Alaskas liquefied natural gas sector as part of U.S. President Donald Trumps visit, the U.S. government said on Thursday.

Alaska Gasline Development Corp (AGDC), the State of Alaska, Sinopec, China Investment Corp [CIC.UL] and the Bank of China have signed an agreement to advance (LNG) in Alaska, the U.S. government said in an email.

The agreement will involve investment of up to $43 billion,create up to 12,000 U.S. jobs during construction, reduce the trade deficit between the United States and Asia by $10 billion a year, and give China clean energy, it said.

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