Chongqing Xiangguosi Storage

PetroChina acquires three natural gas storage hubs from China National Petroleum Corporation (CNPC) for **40.01 billion yuan ($5.59 billion)**. The deal excludes tax and marks a strategic expansion of PetroChina’s gas infrastructure. The facilities will bolster China’s natural gas storage capacity under PetroChina’s management.

Aug 2025Offshore TechnologyNews article

PetroChina proposes acquiring three natural gas storage facilities from its controlling shareholder, China National Petroleum Corporation (CNPC), in a deal valued at **$5.59 billion**. The transaction involves key gas infrastructure assets, marking a significant internal restructuring within China’s state-owned energy sector. The move follows PetroChina’s operational alignment under CNPC’s oversight.

Aug 2025megaproject.comNews article

PetroChina plans to acquire three natural gas storage companies—Xinjiang, Xiangguosi, and Liaohe—for a total of $5.6 billion. The deal, involving its parent China National Petroleum Corp., aims to bolster gas storage capacity amid China’s energy transition. The transaction includes assets valued at 17 billion, 10 billion, and 13 billion yuan respectively, potentially adding ~11 billion cubic meters of storage.

Aug 2025TradingViewNews article

PetroChina proposes acquiring three natural gas storage companies in a $5.6 billion deal to expand China’s gas infrastructure. The transaction, valued at 40 billion yuan, aims to strengthen domestic fuel supply networks. The move follows PetroChina’s focus on diversifying its energy assets.

Aug 2025rigzone.comNews article