China’s state-owned pipeline giant agrees to buy Kunlun Energy assets for US$6.3 billion as consolidation gathers steam

A section of the China-Russia east-route natural gas pipeline in Heihe, northeast China’s Heilongjiang province.

China’s pipeline network behemoth signed a US$6.3 billion asset purchase in the latest step to bolster the nation’s energy security and break down market barriers.

Kunlun Energy

Will sell a 60 percent stake in a Beijing natural gas pipeline and a 75 percent stake in its Dalian LNG company for 40.9 billion yuan to the new state-owned firm China Oil & Gas Pipeline Network Corp (PipeChina),

according to a statement to the Shanghai Stock Exchange on Tuesday. Kunlun Energy is a Petro China

A subsidiary that owns most a gas pipeline feeding Beijing, as well as LNG import infrastructure.

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