Beijing Enterprises buying stake in PetroChina Jingtang LNG

Beijing Enterprises has agreed to purchase a 29 percent equity interest in PetroChina Jingtang LNG for a total of 966 million Chinese yuan ($145.2 million).

The target company is owned by PetroChina and Hebei Natural Gas, and is principally engaged in the provision of port facilities for vessels, cargo handling services, warehousing and loading services within the port area, storage and regasification of liquefied natural gas (LNG).

PetroChina had earlier agreed to sell 51 percent interest in Jingtang LNG to its unit Kunlun Energy, enabling the buyer to operate and manage all three LNG receiving terminals owned by PetroChina, the company said in a statement on Thursday.

PetroChina, a unit of the state-owned China National Petroleum Corporation (CNPC), owns three LNG import facilities, the Dalian LNG terminal located in the Liaoning province, the Rudong LNG terminal in the Jiangsu province and the Tangshan LNG terminal in the Hebei province.

1 CNY = 0.150325 USD

LNG World News Staff