China sets up national pipeline company in major energy revamp

SINGAPORE - China announced the creation of its long-planned national oil and gas pipeline company, officially kicking off one of its biggest energy revamps aimed at helping supply keep pace with swelling demand.

A key development to watch is the valuation of assets, Neil Beveridge, an analyst at Sanford C Bernstein & Co, said earlier ON Monday. It may take six to nine months for that detail to emerge, based on a similar reform of telecom carriers in 2015 that created China Tower Corp., Beveridge said. The plan follows other Chinese reforms aimed at a more level playing field for private and state-owned enterprises. As well, the nation has been accelerating the overhaul of its energy sector in recent years, including changes to its gas pricing policy and merging power giants.

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