Sinopec Sells $3.3 Billion Stake in Natural Gas Pipelines

Updated on
  • China Life, SDIC buying 50% of Sichuan-to-East China pipelines
  • Sinopec approved sale of natural gas pipeline unit in August

China Petroleum & Chemical Corp. is selling a 50 percent stake in a pipeline unit to investors including China Life Insurance Co. for 22.8 billion yuan ($3.3 billion) as it seeks funds to expand its natural gas business.

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