Sinopec to Sell 50% Stake in Sichuan to East China Gas Pipeline

Sinopec on Tuesday said it has decided to sell equity stake in one of its pipeline assets to raise funds.

The company said in a stock exchange filing that it will use the platform of Sinopec Sichuan to East China Gas Pipeline Co., Ltd “to introduce capital publicly”. Sinopec did not divulge the value of the transaction or provide any other details about the process.

Sinopec will hold 50% equity in the unit after the sale, it said in the statement.

The 1,655-km pipeline can transport 12 billion cubic meters of gas per year from Puguang gas field in Sichuan province to Shanghai and eight other provinces or municipalities along the way.