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China s pipeline network behemoth inked a $6.3 billion asset purchase in the latest step to bolster the nation s energy security.
(Bloomberg) China’s pipeline network behemoth inked a $6.3 billion asset purchase in the latest step to bolster the nation’s energy security and break down market barriers. Kunlun shares surged on the news.
Kunlun Energy Co. will sell a 60% stake in a Beijing natural gas pipeline and a 75% stake in its Dalian LNG company for 40.9 billion yuan to the new state-owned firm known as PipeChina, according to a statement to the Shanghai Stock Exchange on Tuesday. Kunlun Energy is a PetroChina Co. subsidiary that owns the majority of a gas pipeline feeding Beijing, as well as LNG import infrastructure.
China eyes energy security with $6.3 billion pipeline consolidation deal 12/23/2020
(Bloomberg) Chinaâs pipeline network behemoth inked a $6.3 billion asset purchase in the latest step to bolster the nationâs energy security and break down market barriers. Kunlun shares surged on the news.
Kunlun Energy Co. will sell a 60% stake in a Beijing natural gas pipeline and a 75% stake in its Dalian LNG company for 40.9 billion yuan to the new state-owned firm known as PipeChina, according to a statement to the Shanghai Stock Exchange on Tuesday. Kunlun Energy is a PetroChina Co. subsidiary that owns the majority of a gas pipeline feeding Beijing, as well as LNG import infrastructure.