Zhi Tong Cai Jing·2025-08-26 11:15Core Viewpoint - China Petroleum & Chemical Corporation (00857) announced the board's approval for a significant acquisition aimed at enhancing its natural gas supply chain and operational efficiency [1] Group 1: Acquisition Details - The company plans to acquire 100% equity of three gas storage facilities from Xinjiang Petroleum Administration, Sichuan Petroleum Administration, and Liaohe Petroleum Exploration Bureau for a total consideration of RMB 40.016 billion (excluding tax) [1] - The acquisition will add 10.97 billion cubic meters of working gas capacity to the company's storage capabilities [1] Group 2: Strategic Importance - The gas storage facilities are crucial for the natural gas production, transportation, storage, and sales process, serving as a key link in the supply chain [1] - This acquisition is expected to enhance the company's ability to match gas storage with sales, thereby improving the overall efficiency of the natural gas industry chain [1]