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Speeding up the reform process of pipe network separation
Sinochem Xinnet News On July 23, PetroChina and Sinopec issued an announcement at the same time, announcing that they intend to sell their oil and gas pipeline assets to the National Pipeline Network Group
.
PetroChina announced that it intends to sell its major oil and gas pipelines, some gas storage facilities, LNG receiving stations and underlying oil and gas and other related assets, including its holdings in related companies, to the National Pipeline Network Group, and obtain the National Pipeline Network.
The Group’s equity and the corresponding cash consideration account for 29.
9% of the equity of the National Pipe Network Group
.
But this transfer does not include pipeline assets owned by Kunlun Energy
Sinopec announced that it intends to transfer the pipeline-related assets of the company and its wholly-owned subsidiary Sinopec Natural Gas and its holding subsidiary Sinopec Guande to the National Pipeline Group
.
Some of them received corresponding equity, and some received cash consideration
For this transaction, PetroChina stated that it mainly focuses on business considerations for long-term development in the future
.
First, after the reorganization of the pipeline business, the company will focus more on upstream oil and gas exploration and development, and actively promote the development of oil and gas terminal markets
Sinopec said that the relevant pipeline assets sold in this transaction will be intensively managed by the National Pipeline Network Group, which is conducive to reducing repeated construction, saving social resources, improving the operational efficiency and security capabilities of the national pipeline network, and further optimizing the industry operating environment.
On the basis of ensuring the stable development of the company's existing business, help the company make good use of the new pipeline network resources, increase the company's self-produced oil and gas prices, and expand more market space
.
In addition, after the completion of the transaction, the company's debt-to-asset ratio will be reduced and the financial situation will be more stable
It is understood that in April this year, CNOOC has taken the lead in signing an oil and gas infrastructure project management transfer agreement with the State Pipeline Group
.
However, the pipeline network assets held by CNOOC are relatively minimal, and the overall impact of the transfer is not significant
Industry insiders believe that in the next step, the National Pipeline Network Group will independently operate these oil and gas pipeline network assets, and gradually develop from stock to incremental, so as to provide a foundation for the implementation of the national pipeline network development plan and the rapid development of the industrial chain
.
At the same time, this indicates that the overall market-oriented reform of oil and gas has officially kicked off
