CNOOC Ends LNG Sales Talks With Chevron

China’s CNOOC Ltd. has called off talks with Chevron over buying liquefied natural gas from Chevron’s Australian Gorgon project, CNOOC said.

Senior Vice President Cao Yunshi did not say why discussions ended, but sources said last year that talks between China’s top offshore oil firm and Chevron had stalled over pricing.

Chevron has a 50% interest in the Gorgon project, with the balance split equally between Exxon Mobil Corp. and Royal Dutch Shell. State-run CNOOC is at the forefront of China’s efforts to promote the use of cleaner-burning LNG.