Construction on China’s West-East Pipeline. CNPC will create a new company to handle pipeline operations. (CNPC)
China National Petroleum Corp.’s (CNPC’s) plan to split its gas sales and pipeline units reflects the state-owned energy giant’s outlook on the evolving Chinese gas market, according to industry experts.
China’s biggest gas producer and the parent of listed PetroChina announced last week that it will create a new company to handle all of its pipeline operations. It will also set up a separate gas sales subsidiary to oversee five regional sales companies.
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