Shandong Shengli has signed an agreement to acquire Chongqing Gas Group Corporation.

The acquisition will help strengthen Shandong Shengli’s market position.

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Both companies involved in the transaction are natural gas firm based in China.

Lucid Energy Group has signed an agreement to sell midstream company Lucid Energy Group II (Lucid II) to a joint venture of Riverstone Holdings and the Goldman Sachs Group, and Merchant Banking Division for $1.6bn.

“Lucid II will operate as a subsidiary of Riverstone Holdings and Goldman Sachs, upon completion of the acquisition.”

Lucid II will operate as a subsidiary of Riverstone Holdings and Goldman Sachs, upon completion of the acquisition.

Lucid Energy Group is a natural gas processing company, while both Riverstone Holdings and Goldman Sachs are private equity firms.

The deal will strengthen Riverstone’s and Goldman Sachs’ investment portfolios.

All companies involved in the transaction are based in the US.