China finally launches state pipeline firm in bid to bolster gas use and investment

摘要

After six years of deliberation, China has launched a new state-owned pipeline company – the China Oil & Gas Piping Network Corporation (COGPNC) – to operate the oil and gas pipeline assets held by the ‘Big Three’ national oil and gas companies, state media reported on Monday. The establishment of the new pipeline firm is designed to boost competition in the gas sector and oversee gas grid expansion, potentially aiding China's coal-to-gas switching efforts.