UPDATE 1-Oil-hungry China moves to strenghten Ecuador ties
(Recasts, adds more details about Ecuador oil production)
QUITO, July 13 (Reuters) - Oil-hungry China is moving to strengthen ties with OPEC member Ecuador, part of a global trend in which the Asian giant is providing billions of dollars in financing to producer nations to guarantee energy supplies.
Ecuadorean President Rafael Correa said on Saturday the country will receive $1 billion as advance payment for future oil sales to China. Ecuador sends most of its oil to the United States, and is trying to to diversify its market.
Details remained unclear on Monday. But China, the world's second biggest petroleum consumer after the United States, is striving to cement better ties with resource-rich Ecuador.
Chinese company Sinohydro is bidding for a contract with Ecuador to build a $2 billion hydroelectric plant in the country.
In addition, the leftist Ecuadorean government says it is in talks with Chinese companies interested in investing in the Manta air base, which the U.S. Army is due to leave in September. Ecuador wants to build a commercial airport in Manta.
According to the Chinese customs office, China imported 326,000 tonnes of crude oil from Ecuador in the first four months of 2009.
Ecuador is the fifth largest producer of crude oil in South America after Venezuela, Brazil, Argentina and Colombia. It produced 486,000 barrels of crude oil a day in May. Continued...
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