China's top oil and natural gas producer PetroChina (PTR.NYSE; 00857.HK; 601857.SH) Tuesday unveiled a gas-marketing subsidiary in Chengdu, capital city of southwest China's Sichuan province.
The establishment of the gas-marketing branch would help prompt local sales of natural gas from Sichuan basin, central Asia and Myanmar. PetroChina has over 1,000 industrial users of natural gas, more than 15 million residential household users and over 12,000 utility and community clients, accounting for 75 percent of market share. PetroChina sells over 18 billion cubic meters of natural gas in Sichuan province and Chongqing municipality each year.
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