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Sinopec's overseas journey once again achieved a breakthrough. Yesterday, the company announced to increase investment in Australia's natural gas company APLNG, the holdings of the latter's shares to 25%.
Yesterday, Sinopec and Australia Pacific LNG Ltd (APLNG) signed a framework agreement.
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 Accordingly, the petrochemical project will increase each year from APLNG purchase 3.3 million tons of liquefied natural gas until 2035; the same time, the parties also subscribe APLNG additional shares of Sinopec reached a non-binding key commercial terms. Sinopec stake for APLNG from 15% to 25%, ConocoPhillips and Origin's stake reduced to 37.5%, respectively. However, the specific investment amounts were not disclosed. Some analysts pointed out, APLNG project worth about $ 20 billion.

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APLNG are Origin company, ConocoPhillips joint venture with Sinopec, had three of the 42.5% stake, respectively, 42.5% and 15%. It seems the two partners, the framework agreement, marking the second line APLNG marketing project work completed, APLNG project has made ​​a significant progress. In April, Sinopec signed purchase and sale agreement with APLNG, since mid-2015 purchase 4.3 million tons from APLNG project / year of LNG for a period of 20 years; and signed stock option agreement to acquire 15% of the shares APLNG.