US, China sign agreement to develop liquefied natural gas export terminals

Beijing, China — (AP) U.S. President Donald Trump and Chinese President Xi Jinping have signed a memorandum of understanding on the development of liquefaction facilities, with the two leaders agreeing to establish a joint committee to work on joint projects.

The agreement, which will be announced Friday, will pave the way for a planned liquefier to be built in the United States and China, where it could be built near New Jersey or New York.

The U.K. and Norway, which have already signed similar deals, will also sign similar agreements.

Both sides have long touted liquefying technology, with U.N. Secretary-General Antonio Guterres calling liquefiers the world’s most advanced technology.

China is already the world leader in liquefining and processing of oil and gas.

Its liquefactory in Zhengzhou in central China’s Zhejiang province is the world capital for producing liquefish oil and the world headquarters for liquefating gas.

The Trump administration has pledged to boost liquefactions by 25% and boost the use of liquifused petroleum gas by 30%.