by Ameera Fouad
A snap shot on the major billion-business deals, which took place this week, covering countries around the globe
UK –China Business Deals
Upon the legendary visit made in UK by the Chinese President Xi Jinping in Mansion House, this week has witnessed the signing of billions of Sterling Pounds at one of the major business and economics summits of all :
Whereas the Chinese President and the British Prime Minister sat down and started conducing a meeting after meeting , no sooner were such token translated into money and money was in turn translated into massive industries with billions of pounds scattered over here and there .
The business deals signed thereof were:
Oil and gas Sector:
- British Petroleum and China Huadian Corporation signed a sale and a purchase agreement that stipulates that the BP shall sell Huadian up to 1 million tones of liquefied natural gas (LNG) on annual basis .
- British Petroleum and China National Petroleum Corporation (CNPC) has signed an extended agreement would definitely ass to their global partnerships on developing a strategic cooperation that would cover shale gas exploration and production sites in the Sichuan Basin
Energy and Nuclear sector:
- HNA Group and Rolls-Royce pronounced a deal for the latter to provide Trent 700 engines to power 20 Air bus A330S. Both Groups have also agreed a Total Care package for a further 9 Trent 700 engines and 15 Trent XWB Engines .It is believed that these Trent 700 and Trent XWB engines are 2 of Rolls-Royce’s best-selling engines and are assembled in Derby.
- Within weeks and working on the first nuclear power plant built in UK for more than 20 years , the French Energy Compnay EDF and China’s State-owned China General Nuclear Power (CGN) agreed upon a deal to build at last the 18 billion Sterling Pounds Project .
The long –awaiting for “ Hinkley Point C plant in Somerset “ has been described in a joint conference attended by James Cameron and XI as the “flagship project of cooperation” in a new era for China and Britain.
State-owned China General Nuclear Power (CGN) has taken a 33.5% stake in Hinkley, with EDF holding the remainder of the ownership . Hinkley Point C nuclear power station is a project to construct a 3,200 MWe nuclear power station with two European Pressurised Reactors in Somerset, England.
Hinkley Point is scheduled for completion by 2025 and is intended to provide about 7% of the UK’s energy.
U.S: Kellogg Co. and Diamond Foods Inc.
A deal of nearly $1.5 billion : Kellogg Co (K.N), the famous cornflakes and rice Crisps, will probably buy Diamond Foods Inc ( DMND.O ), the famous snack foods company in a deal of more than $1.5 billion.
The deal was a mutual exchange service business. At the time when Diamond Foods is struggling to boost sales this year, Kellogg , on the other hand is trying to expand its snack foods business through international deals and through buying a company like Diamonds which powerfully exists on firm ground for being a gigantic tycoon for snakes especially in the United States.
Australia: Beach Energy and Drillsearch Energy
A deal of 1.17 Billion Australian Dollar: The two tycoon energy companies in Australia : Beach Energy and Drill search Energy will merge into one gigantic company creating 842.7 Million US dollar company . The merger of these two companies will create Australia ‘s biggest onshore oil producer and a large natural gas supplier
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Japan and Turkmenistan: Natural Gas fields
A deal of more than 16.4 Billion Euros :Last Friday , Japan and Turkmenistan signed a series of deals which worth more than 1604 billion Euros equivalent to 18 billion US Dollars ranging from natural gas to chemicals.
The Japanese company ( JGC ) made its biggest deals in Turkmenistan , one of the world’s largest natural gas reserves, to build a plant that is linked to natural gas fields . The deal main aim is to help Turkmenistan convert its vast natural gas reserves into anything from plastic to liquid fuel and fertilizers.
Turkmenistan produces around 70 billion cubic meters of natural gas every year, with roughly two-thirds of its exports going to Russia’s Gazprom. Thus, Japan, for its part, has been most successful in gaining a grip on the energy-rich market through its expertise in engineering and technologies.
Reaching a new milestone in its industrial development with the active use of natural gas is the ultimate goal of Turkmenistan and it could achieve such by the support of Japan.
