LNG

July 25 (LNGJ) - China National Petroleum Corp. and New York-based energy company Hess have agreed to a joint venture to develop a shale basin in northwestern China as the country aims to securing shale-gas output to replace future LNG volumes. The two signed an agreement for the Malang Block of the Santanghu basin in Xinjiang. Hess Vice-President of exploration and production Gregory Hill met with CNPC president Liao Yongyuan in Beijing for the signing