Kunlun Energy to Buy 51% Stake in PetroChina Jingtang LNG for CNY1.55 Billion

Kunlun Energy Co. (0135.HK) has agreed to buy a controlling stake in a natural- gas terminal operator from its parent for 1.55 billion yuan ($233 million).

The blue-chip distributor and operator of LNG terminals said after markets closed Thursday that it plans to buy a 51% stake in PetroChina Jingtang LNG Co. from PetroChina Co. (0857.HK).

PetroChina Jingtang, which has a registered capital of CNY2.6 billion, operates liquefied natural gas terminals and provides storage and regasification services and other warehousing facilities. Its other shareholders are Beijing Enterprises Group Co. and Hebei Natural Gas Co.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

September 28, 2017 06:01 ET (10:01 GMT)