Kunlun Energy buys 51% stake in Jingtang LNG for $232m

The deal will give Kunlun Energy access to three LNG receiving terminals.

The Chinese company Kunlun Energy Limited (formerly CNPC Limited) has agreed to acquire a 51% equity in PetroChina Jingtang LNG Co. from PetroChina Co. for CYu1.5bn (around US$232m). Enerdata reported that once completed, the acquisition will give Kunlun Energy access to three LNG receiving terminals formerly operated by PetroChina, namely the Dalian LNG terminal (Liaoning province), the Rudong LNG terminal (also known as Jiangsu LNG, Jiangsu province) and the Tangshan LNG terminal (Hebei province).

PetroChina Jingtang LNG Co. has a registered capital of CYu2.6bn and operated the three aforementioned LNG facilities provides storage and regasification services. Its other shareholders are Beijing Enterprises Group Co. and Hebei Natural Gas Co.

This story was originally published by Enerdata.