Natural Gas Pipeline or PetroChina Independently Helps LNG Reform

It is understood that in the most recent month, the National Development and Reform Commission has convened representatives of oil companies on several occasions to discuss the possibility of recovering the pipeline business of PetroChina. The purpose is to further streamline the price of natural gas pipelines.

Sources said that the natural gas price reform program has already been established, but the reasons for delays in the launch of the project are not limited to a wide range of issues. It is also difficult to straighten out the relationship between upstream and downstream prices. As the pipeline is partly controlled by PetroChina, PetroChina almost monopolizes China's land-based natural gas exploitation, and CNG imports natural gas from West Asia and Russia. As a result, two of the three components of China's urban natural gas are controlled by PetroChina.

An oil expert who has served as a consultant to the National Development and Reform Commission told the Economic Observer newspaper that he had discussed the pipeline several times before, but the timing was not right. Now that there is a case of corruption in PetroChina, this may be a good time.

In addition to the independence of the pipeline, PetroChina also faces another type of “splitting”: studying CNOOC and Sinopec, and relocating its unlisted high-quality assets through specialized restructuring and independent listing.

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