China would state its policy to split off long-distance natural gas pipelines from state-owned oil enterprises in upcoming development plan of oil and natural gas industry in 2016-2020, said a report by Securities Daily on Thursday.
An independent natural gas pipeline operating company would be established under the regulation by central government, said the report, citing a source close to the National Development and Reform Commission and the National Energy Administration.
China National Petroleum Corporation (CNPC) would sell equities with more domestic long-distance natural gas pipelines in the future to reap one-time income, said Guan Bin, an analyst with China International Capital Corporation. In November, PetroChina (PTR.NYSE; 00857.HK; 601857.SH) said its board approved the sale of a 50-percent stake in Central Asia Natural Gas Pipeline Co. for 15 billion to 15.5 billion yuan.
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