Sinopec, China Gas Sign Cooperation Deal

China Gas Holding said that it has entered into the Strategic Cooperation Framework Agreement with Sinopec.

Under the Strategic Co-operation Framework Agreement, Sinopec recognises that the important position of the Group in the city gas distribution industry in the PRC and the Group’s excellent project portfolio and development potential would highly complement Sinopec’s business development in the PRC natural gas and LPG sectors, the company said in a statement.

China Gas also said that ENN Energy Holdings and Sinopec have decided not to extend further the long stop date in respect of the pre-conditional voluntary cash offer which was first announced by the two companies on 12 December 2011 and will not issue any offer document in respect of this offer, and that this offer has therefore lapsed.

[mappress]
LNG World News Staff, October 15, 2012; Image: China Gas