Kunlun Energy Co Ltd said it would bid up to 2.21 billion yuan ($325 million) in an open tender for a 75 percent stake in Dalian LNG terminal operator PetroChina Dalian LNG Company Ltd.
In a filing to the Hong Kong bourse late on Monday, the oil and natural gas explorer and producer said it would bid for the stake from controlling shareholder PetroChina and fund the deal via internal resources.
Kunlun, formerly known as CNPC (Hong Kong) Ltd, said it bid for the interest to ensure and diversify natural gas supply and expand in the vehicle fuel gas and city gas businesses.
The LNG terminal to be operated by PetroChina Dalian LNG Company was still in the construction phase and had not commenced operations, it added.
In a filing to the Hong Kong bourse late on Monday, the oil and natural gas explorer and producer said it would bid for the stake from controlling shareholder PetroChina and fund the deal via internal resources.
Kunlun, formerly known as CNPC (Hong Kong) Ltd, said it bid for the interest to ensure and diversify natural gas supply and expand in the vehicle fuel gas and city gas businesses.
The LNG terminal to be operated by PetroChina Dalian LNG Company was still in the construction phase and had not commenced operations, it added.