LNG

Sinopec of China has agreed to buy Daylight Energy of Canada for around US$2 billion to gain shale-gas reserves, and possible access to a future LNG export project on the Canadian Pacific coast.

The cash offer of C$10.08 a share from Sinopec International Petroleum Exploration & Production Corp. was more than double Daylight’s closing price of C$4.59 last week.

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