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PetroChina pipeline divestment update

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World Pipelines,

PetroChina is discussing selling a stake in domestic gas pipelines worth an estimated US$47 billion, according to reports.

PetroChina produces two-thirds of China's natural gas and controls nearly 80% of the country's 90 000 km of gas pipelines.

Beijing is expected to announce a reform package in the coming weeks that targets its vast energy sector, part of a broader restructuring drive to boost efficiency and bring in private investment.

The pipelines for sale include three trunklines running from the country's far west to its eastern and southern shores.

Edited from various sources by Elizabeth Corner

Sources: ReutersSouth China Morning Post

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