PetroChina gears up for more pipeline reshuffling8 March 2017
PetroChina is considering another round of restructuring for its sprawling pipeline empire amid speculation it plans to spin off its gas pipeline business with an initial public offering in Hong Kong by the end of this year, company sources have told Interfax Natural Gas Daily.
“PetroChina’s pipeline assets will undergo more reshuffling,” said a source at PetroChina Pipelines, the state energy giant’s pipeline holding company, which was formed at the end of 2015. PetroChina owns 72.26% of the unit, which operates China’s three West-East pipelines (WEPs) and had a registered capital of RMB 80 billion ($12.4 billion) when it was created.
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