Oil Giant Mulls Selling Stakes in Pipeline to Raise Funds

(Beijing) – Late last year, China National Petroleum Corp. (CNPC), the largest oil and gas producer in the country, met with several insurance companies about selling stakes in natural gas transmission projects.

The expected size of financing is nearly 80 billion yuan and both sides will meet again soon, several sources close to CNPC say.

CNPC wants to sell stakes in Line 1 and Line 2 of the West-East Gas Pipeline.