The creation of the pipeline company was mentioned in the National Development & Reform Commission’s work report released Tuesday during the annual National People’s Congress meeting, alongside closely watched indicators including economic growth targets and debt reduction goals.
“Pipeline reform is a key step toward liberalization of the oil and gas market,” said Neil Beveridge at Sanford C. Bernstein & Co. in Hong Kong, adding that the move is “the biggest reform in decades.”
The formation of a new pipeline company would help reform the energy sector by separating transmission and sales businesses and removing impediments to oil and gas exploration, according to the report. It included no further details of the company or timing of its creation.
