Kunlun Energy was established under PetroChina's "Going Global" strategy and has now been in operation for over 30 years. In the early 1990s, PetroChina proposed three major strategies: "Stabilizing the East, Developing the West, Expanding Overseas Operations, and Diversifying Operations." Funds were raised through the Hong Kong capital market to support domestic and international business expansion. In 1993, through acquisitions and restructuring, Kunlun Energy became PetroChina's first red-chip listed company. Over the past 30 years, Kunlun Energy has raised a total of RMB 49.2 billion in the Hong Kong capital market and has successively acquired overseas oilfield blocks, the Shaanxi-Beijing pipeline, Jiangsu LNG, Dalian LNG, and Kunlun Gas. From its initial focus on overseas exploration and development, Kunlun Energy moved to the domestic market to implement the "Oil-to-Gas" strategy and eventually transitioned into PetroChina's financing platform and investment entity for natural gas business development, as well as its operational management platform for natural gas retail terminal businesses, dedicated to "enhancing the quality of life for the people and contributing to the construction of a beautiful China."
Currently, Kunlun Energy’s strategic focus includes urban gas distribution, natural gas pipelines, LNG and CNG terminals, natural gas power generation and distributed energy, LNG processing and storage, and LPG sales. Its operations cover 31 provinces, autonomous regions, and municipalities in China, with over 15 million users. The company achieves an annual natural gas sales volume of 50 billion cubic meters, an LNG terminal receiving capacity of 19 million tons, and an LPG annual sales volume exceeding 6 million tons, making it one of the largest natural gas terminal utilization companies and LPG sales enterprises in China by sales volume.
Kunlun Energy has been actively engaging in the capital market and has received numerous accolades in recent years, including the "Best Listed Company" and "Most Valuable Listed Company" awards at the China Securities Golden Bauhinia Awards, the "Outstanding Listed Company of the 30th Anniversary of the Capital Market" award, and the "Outstanding Contribution Enterprise of the 70th Anniversary of the Founding of the People's Republic of China" award. Additionally, the company has won renowned international honors such as "Asia's Most Honored Company in the Energy Sector" and "Best Investor Relations Team" by the prestigious financial magazine Institutional Investor. Kunlun Energy has been included in 13 indices, such as the "Hang Seng Stock Connect China State-Owned Enterprise Index," "Hang Seng Stock Connect China SOE ESG Leading Index," "Hang Seng China High Dividend Yield Index," and "China SOE ESG Index." In July 2025, the MSCI ESG rating achieved a significant leap, upgrading from BBB to A.