Pipechina start-up to test liberalisation drive

摘要

China’s two biggest energy frms, state-controlled PetroChina and Sinopec, have agreed to sell oil and gas infrastructure assets valued at 391.5bn yuan ($56bn) to state-run China Oil and Gas Pipeline Network (PipeChina). This paves the way for the new pipeline company to start operations in the next few months. The transactions, including the transfer of personnel and asset ownership, are expected to be completed by 30 September. PipeChina is sched- uled to start operations on the same date.