PipeChina Takes Over Kunlun’s Assets
On March 31, 2021, PipeChina and CNPC hosted a ceremony to announce the official asset and stake transfer from CNPC’s natural gas arm Kunlun Energy to PipeChina, including 60% stake of the 80,000-kilometer Shaanxi-Beijing Pipeline system (Shaan-Jing Pipeline I, II, III & IV) and 75% stake of Dalian LNG Receiving Terminal.
With this final transfer, PipeChina has finished its puzzle of the territory of a new natural gas giant with all main pipelines and one third of China’s LNG receiving terminals under its control as well as a major part of UGS facilities, and PipeChina now is in its full mighty to provide natural gas supply security to the whole nation and promote the midstream reform and market liberalization reform in China’s natural gas sector.
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