CNPC Announces Plans to Sell Eastern Parts of West-East Pipelines

(Beijing) – China National Petroleum Corp. (CNPC) said on May 12 it plans to sell all its assets in the eastern part of two major transmission pipelines.

The country's largest oil and gas producer plans to first register an independent company in Shanghai to manage the assets and debts of the eastern sections of lines 1 and 2 of the West-East Gas Pipeline, and then sell all the shares in the company to outside investors. CNPC did not say who was eligible to invest.