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<Research>Citi: CN Signs Natural Gas Agreement with Russia, Positively Impacting PETROCHINA (00857.HK)
Recommend 14 Positive 24 Negative 7 |
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Russia's Gazprom and China National Petroleum Corporation (CNPC) entered into an agreement to increase the annual gas supply to China through the Power of Siberia 1 pipeline, Citi Research issued a research report saying. Furthermore, both parties also signed a memorandum of understanding (MOU) to plan the construction of the Power of Siberia 2 pipeline, but the broker expected it to commence after 2030. Citi Research believed that this is a gradual positive factor for PETROCHINA (00857.HK), reinforcing its market share in the domestic natural gas market. Based on the SOTP valuation method, the broker rated PETROCHINA's H-shares at Buy, with a target price of $8.2. AASTOCKS Financial News Website: www.aastocks.com |
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