On Thursday, state-run Xinhua news agency said that Southern Guangdong has become the first Chinese province to transfer its natural gas pipeline network to the country’s newly established oil and gas pipeline giant PipeChina.
The agreement involves an asset stake transfer, but there were no further details disclosed.
In 2020, PipeChina will lay six new trunk gas lines with a total length of 751 km (467 miles) in Guangdong, China’s second-largest gas-consuming province.
PipeChina aims to provide neutral access to pipeline infrastructure previously dominated by national oil and gas producers, and boosting investment from small and private companies.
