<span id="y9z8c"><optgroup id="y9z8c"></optgroup></span>
    1. <label id="y9z8c"><meter id="y9z8c"></meter></label>
    2. The Annual Shale Gas Technology & Equipment Event
      logo

      The 16thBeijing International Shale Gas Technology and Equipment Exhibition

      ufi

      BEIJING,CHINA

      March 25-27,2026

      LOCATION :Home> News > Industry News

      China's Sinopec Moves into Small U.S. Town

      Pubdate:2012-11-07 09:59 Source:lijing Click:

      The town of Medicine Bow, Wyo., population less than 300, has become the unlikely location for the next phase of China's advance into the U.S. energy market.


      An arm of state-controlled Sinopec Group, also known as China Petrochemical Corp., is planning to build an advanced facility there that will convert coal into gasoline, which will capture and reuse carbon dioxide otherwise emitted into the atmosphere.


      Sinopec brings to the potentially expensive and complicated project less pricey Chinese components and materials. It may also open up the doors to attractive Chinese capital.


      "What's important obviously is their ability to source internationally components here," said Bob Kelly, executive chairman of Houston-based DKRW Advanced Fuels, which contracted Sinopec and will own and operate the plant through a unit. "They have one of the most competitive procurement arms I think world-wide."


      The company declined to disclose terms of its deal with Sinopec. It has previously said the project would cost about $2 billion.


      Sinopec, in a written response to questions, said high investment levels in the refining and petrochemicals sector would present strong overseas business opportunities in the coming years as it seeks to build up a unique Chinese engineering brand. "We expect to offer the U.S. energy market high technology value and high-quality engineering services for both sides to achieve a mutually beneficial win-win," the company said.


      Sinopec, already involved in developing energy refining, transport and storage assets from Indonesia to Saudi Arabia, has its eyes set on the U.S. It comes as companies including Dow Chemical Co. DOW +1.04%plan new U.S. petrochemical facilities resulting from the country's natural gas glut. DKRW's Mr. Kelly said he believes his company is at the forefront of a bigger U.S. engineering push by Chinese companies.


      Chinese energy firms are already active in North American oil-and-gas exploration. In January, Sinopec agreed to pay $2.5 billion to Devon Energy Corp. DVN +0.05%of Oklahoma City for a stake in drilling property in Michigan, Ohio and elsewhere. Rival Cnooc Ltd. 0883.HK +0.25%reached a $15.1 billion deal in July to purchase Canada's Nexen Inc., NXY.T -1.67%which holds sizable oil-and-gas assets in Canada and the U.S. Gulf of Mexico.


      But their growth prospects in that area for now are limited because Chinese companies lack sophisticated extraction skills, while political concerns limit the opportunity for bigger stakes. Experts say those companies have more to offer the part of the energy industry called downstream—the business of refining, processing and distributing the fuels.


      "You don't have expertise in unconventional oil, you certainly don't have a cost advantage and you come with political risk," said Trevor Houser, a partner at New York consulting firm Rhodium Group who previously advised the U.S. government on energy issues. "On the other hand, Sinopec could potentially have a cost advantage when it comes to downstream."


      The work by Sinopec Engineering Group helps satisfy a key requirement of the Chinese government: developing new overseas markets to prop up domestic materials and component producers. A booming Chinese economy and high public-spending levels for decades supported industrial production, but Beijing worries those companies could suffer as economic growth moderates.


      China has "so drastically built up domestic production in recent years they will need an outlet for industrial capacity," said Lin Boqiang, who runs the China Center for Energy Economics Research at Xiamen University. Mr. Lin, who has advised the Chinese government on energy policy, said Sinopec winning engineering work in the U.S. was important to establishing itself as a global brand. He said moves up the U.S. value chain would continue, and believed Chinese oil majors such as Sinopec could establish retail gas stations in the U.S. in the next few years.


      "When you become more competitive you go into places with more competition," Mr. Lin said.


      In the Wyoming project, some materials potentially including things like steel could be sourced from China as a way to keep costs down. "To compete in the world-wide market for this type of project you've got to be able to source it at the lowest cost," said DKRW's Mr. Kelly.


      The company says the Medicine Bow project will also benefit the local economy, creating up to 2,300 construction jobs and 400 full-time jobs when the facility goes into operation. "Clean coal" facilities can be complicated by high project costs and promising but at times unproven technologies.


      Sinopec has previously pursued similar work in the U.S. power industry. In September, Seattle-based Summit Power Group LLC said Sinopec Engineering will manage construction of a critical portion of the Texas Clean Energy Project, a planned power-generating facility near Odessa. The facility will be funded by state-owned Export-Import Bank of China, and is in line to receive $450 million in U.S. federal funding.


      Proponents of U.S.-China cooperation on energy and power projects argue even though some components will be sourced internationally instead of from U.S. workers, lower upfront costs to construct facilities could transfer into cheaper electricity and other end-products for consumers.


      It's not clear whether a Chinese bank will help fund the Wyoming project. Mr. Kelly said DKRW hoped to finalize financing by the end of the year, and for construction work to begin in Medicine Bow in early 2013.


      "It's important for us have banking relationships and investment relationships that have capital coming in to develop resources here and industries here," Mr. Kelly said. "And it's important for China as they grow their markets."

      主站蜘蛛池模板: 国产福利电影一区二区三区,免费久久久久久久精 | 黄色免费网站网址| 在线看片人成视频免费无遮挡| 亚洲福利视频一区| 香港a毛片免费观看| 亚洲av日韩av高潮潮喷无码 | 美女羞羞视频免费网站| 成人久久免费网站| 亚洲色欲色欲www在线丝| 亚洲娇小性xxxx色| 99热在线精品免费全部my| 亚洲资源最新版在线观看| 性xxxx视频播放免费| 亚洲国产精品精华液| 1000部拍拍拍18勿入免费视频软件 | 亚洲成AV人片天堂网无码| 国内精品免费视频精选在线观看| 亚洲成a人片在线观看无码专区| 日本视频免费高清一本18| www国产亚洲精品久久久| 亚洲av无码片在线观看| 夫妻免费无码V看片| 美女被免费网站视频在线| 亚洲天堂在线视频| 美女视频黄a视频全免费网站色 | 国产精品免费无遮挡无码永久视频 | 中国人xxxxx69免费视频| 亚洲色中文字幕无码AV| 免费女人高潮流视频在线观看| 久久久久亚洲AV成人网人人软件| 两个人看的www高清免费观看| 亚洲AV无码乱码在线观看牲色| eeuss免费天堂影院| 在线电影你懂的亚洲| 久热免费在线视频| 亚洲影院天堂中文av色| 成人免费视频77777| 白白色免费在线视频| 国产在线19禁免费观看| 亚洲乱色熟女一区二区三区蜜臀| 亚洲国产精品综合久久一线|