PetroChina affiliate Kunlun Energy conditionally agreed to sell and PipeChina conditionally agreed to purchase 60% shares of Beijing Pipeline and 75% shares of Dalian LNG at a base consideration of approximately RMB40.89 billion to be paid in cash, according to an equity transfer agreement signed on December 22, 2020. Upon completion of the transfer, Kunlun Energy will hold no shares of the two target companies.
