China yesterday launched a state-owned enterprise to manage the country’s oil and gas pipelines, as part of efforts to bolster the role of gas in the country’s energy mix.
The majority of pipeline infrastructure run by state-owned companies China National Petroleum Corp, Sinopec and Cnooc will be handed over to the company, in a move to provide other industry participants with fairer access, China’s official Xinhua news agency said.
China is overhauling its oil and gas industry in an effort to reduce reliance on polluting coal, and has sought to secure its energy supply by diversifying imports of liquefied natural gas.
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