Ge Long Hui·2025-08-26 11:20Core Viewpoint - China Petroleum & Chemical Corporation (00857.HK) announced the board's approval for a significant acquisition of gas storage facilities, totaling a cost of RMB 400.16 billion, aimed at enhancing the stability and quality of its natural gas supply chain [1] Group 1: Acquisition Details - The acquisition involves three gas storage facilities: Xinjiang Gas Storage, Xiangguansi Gas Storage, and Liaohe Gas Storage, with respective costs of RMB 170.66 billion, RMB 99.95 billion, and RMB 129.55 billion [1] - The total acquisition cost is RMB 400.16 billion, excluding taxes [1] Group 2: Strategic Importance - The acquisition is expected to improve the company's natural gas supply chain's stability and facilitate high-quality development [1] - Gas storage facilities play a crucial role in the natural gas production, transportation, storage, and sales process, acting as a tool for peak shaving and balancing production from gas fields [1] - The planned acquisition will add 10.97 billion cubic meters of working gas capacity, enhancing the company's ability to match gas sales with storage and peak-shaving capabilities, thereby maximizing overall efficiency in the natural gas supply chain [1]