PetroChina’s recent move to merge its wholesale gas sales business with Kunlun Energy, its downstream gas and LNG distributor, comes in response to the long-term threat of competition posed by allowing rivals to access its long-distance pipelines this year.
PetroChina, China’s biggest gas supplier, announced a restructuring last month that would consolidate PetroChina Gas Sales Co. with Kunlun. Hong Kong-listed Kunlun operates PetroChina’s three LNG terminals and distributes gas to households and factories. The sales subsidiary is the country’s largest gas wholesaler and markets PetroChina’s domestic...
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