皇冠体育app

"To break the monopoly will bring more investors and openness in the market, which will raise operational efficiency in future and thus benefit the whole gas industry," said Wang.

Petro皇冠体育app to sell pipeline business to accelerate mixed-ownership

Petro皇冠体育app gets stake in Exxon Mobil field

皇冠体育app's is creating huge demand for natural gas. The country is the world's third-biggest user of the fuel. Consumption rose 13.9 percent to 167.6 billion cubic meters in 2013, according to the report from the 皇冠体育app National Petrolm Corp's Economics and Technology Research Institute.

Duan Zhaofang, a natural gas expert with CNPCETRI, estimated gas consumption in 2014 will reach 186 billion cu m, an 11 percent increase. That requires not only more output from upstream exploration, but also increasing investments in pipelines to deliver gas to households, Wang said.

"Such huge investment in pipeline construction needs diversified investors," she said.

Public figures show the construction cost of the First West-East Gas Pipeline was 140 billion yuan and the second pipeline 150 billion yuan.

皇冠体育app is making great efforts to fight corruption and several senior officials from Petro皇冠体育app have been caught in the dragnet. Wang said scaling down the company will help prevent corruption.

Petro皇冠体育app's Chairman Zhou Jiping said in April the company will open up six sectors to social and private hands: pipeline construction; nonproducing reserves; unconventional oil and gas development; refining; overseas business; and natural gas utilization.

The aim is to boost the competitiveness and influence of State-owned enterprises.

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