China gets gas, sees Daylight
Apparently, China's appetite for construction is still rumbling along:
A unit of China Petrochemical Corp (Sinopec) has signed a deal to buy Canadian oil and gas explorer Daylight Energy Ltd (Toronto:DAY.TO - News) for C$2.2 billion ($2.1 billion) in cash, underscoring China's quest to secure enough energy to power its booming economy.
A key reason for the deal is that Daylight is predominately a natural gas company and China would like to export liquefied natural gas from western Canada.
Will we see more of this type of investment by China in the future? I believe we will since they have relatively scarce energy resources of their own.