News News

National oil and gas pipeline network launched

日期: 2019-12-09
浏览次数: 2

China on Monday officially launched its long-planned national oil and gas pipeline network company, as part of the country's ongoing oil and gas reforms to help meet the nation's increasing energy needs.

The newly-formed national pipeline company reportedly will be one among the many central State-owned companies under the State-owned Assets Supervision and Administration Commission of the State Council.

Combining the pipeline assets of the country's big three State-owned energy giants - PetroChina, Sinopec and CNOOC, the creation of the new company will help foster a more competitive environment for all players in the sector.

The establishment of the new company is also a key step towards the marketization of China's oil and gas pipeline industry. It is also a key measure conducive to the separation of oil and gas transportation and marketing, which will have an important impact on China's current oil and gas market mechanism

In fact, the creation of a national oil and gas company has been under consideration for years. Now the Chinese government is dedicated to continuously promoting oil and gas pipeline network reforms, enhancing the high-level openness in the market and encouraging full competition for all market players.

Experts said the creation of the new company shows the government's determination to widen the reforms, which will help improve the efficiency of oil and gas resource allocation and ensure the safe and stable supply of energy.

By separating the pipeline business from sales, the guideline is likely to bring more social capital to the construction of pipelines, and allow upstream and downstream participants more access to the infrastructure.

In recent years, China has seen rapid development of the construction of the natural gas pipeline network. By the end of 2018, the country had 76,000 kilometers of long-distance pipelines carrying natural gas, with a capacity of more than 280 billion cubic meters of natural gas per year, according to Liu Manping, an expert from the China Oil and Gas Industry Think Tank Alliance.


Share to:
News / Recommended news More
2020 - 09 - 21
China on Monday released plans to build pilot free trade zones in the country's capital Beijing, central China's Hunan Province and east China's Anhui Province.A plan to expand the pilot free trade zone in east China's Zhejiang Province was also released.
2020 - 09 - 19
Cargo throughput at China's major ports has continued to recover as economic activities have normalized amid effective epidemic control measures, data from the China Ports Association showed.Cargo throughput monitored by the association went up 9 percent year-on-year in early September, with foreign trade throughput surging 16.5 percent.Container throughput rose 7.4 percent year on year, accel...
2020 - 09 - 10
BEIJING -- A promotional video, in which African people are watching Chinese films and TV series with great interest, has caught the attention of spectators at the cultural services exhibition area of the ongoing 2020 China International Fair for Trade in Services (CIFTIS).Both the digital television and the programs they are enjoying were brought to them by StarTimes Group, a Beijing-based media ...
2020 - 09 - 05
Chinese President Xi Jinping on Friday made three proposals at the Global Trade in Services Summit of the 2020 China International Fair for Trade in Services via video.Firstly, all countries should jointly foster an open and inclusive environment for cooperation, Xi said.China will stay committed to further opening up, with measures including the establishment of a sound negative list management s...
Phone: 86-510-85750782 
Zip code:214031
Address: Room 3606, Block A, Yunhe East Road 555, Wuxi, Jiangsu Province, China
Copyright ©2018 - 2021 Leonzon International Trading Co., Ltd.
犀牛云提供企业云服务