China National Pipeline Network Group takes over the operation of oil and gas pipeline network assets

According to the agreement, the National Pipe Network Group and CNPC, Sinopec, CNOOC, China Chengtong, China Guoxin, Social Security Fund, China Insurance Investment Fund, China Investment International, and Silk Road Fund signed an asset transaction agreement and capital increase The share expansion agreement will come into effect at 24:00 today. The National Pipeline Network Group will fully take over the relevant oil and gas pipeline infrastructure assets (business) and personnel that originally belonged to the three major oil companies, and formally connect to the grid for operation, which marks China’s oil and gas pipeline network. The market-oriented reform of the operating mechanism has achieved significant results. Lian Weiliang, deputy director of the National Development and Reform Commission, Weng Jieming, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, and Zhang Jianhua, director of the National Energy Administration attended the ceremony. Zhang Wei, chairman of the State Pipe Network Group, attended the signing ceremony and delivered a speech. General manager Hou Qijun represented the signing ceremony. Signing ceremony.

Prior to this, the relevant proposals for asset transactions have been reviewed by the board of directors of PetroChina and Sinopec and passed by the shareholders meeting. The National Pipeline Network Group acquired the three major oil companies and their affiliated oil and gas pipeline network related assets by combining equity and cash. At the same time, the State Pipe Network Group signed a cash capital increase agreement with China Chengtong, China Guoxin, Social Security Fund, China Insurance Investment Fund, China Investment International, and Silk Road Fund. The above-mentioned investors subscribed for the state by cash capital increase. Equity of Pipe Network Group. State-owned investment institutions’ equity participation in the National Pipe Network Group in a market-oriented manner is conducive to perfecting the adjustment of state-owned capital layout, giving full play to the function of state-owned capital operating platforms, advancing the reform of mixed ownership, giving full play to the decisive role of the market in resource allocation, and building socialism with Chinese characteristics Market economy.

Zhang Wei said: "The establishment of the National Pipeline Network Group is a major move to implement the new strategy of "Four Revolutions, One Cooperation" energy security by president Xi Jinping. It is the party Central Committee and the State Council's proposal to deepen the reform of the oil and gas system and the reform of the oil and gas pipeline network operation mechanism. Major deployments. Under the support and guidance of the National Development and Reform Commission, the State-owned Assets Supervision and Administration Commission of the State Council and other state ministries and commissions, the State Pipeline Network Group will officially put into operation on October 1, and will conduct unified deployment, unified operation and unified management of the country’s major oil and gas pipeline infrastructure , Will further promote the formation of the'X+1+X' oil and gas market-oriented operation mechanism, and make new contributions to safeguarding national energy security and improving energy efficiency."

The National Pipeline Network Group was established to separate the intermediate link of pipeline transportation from upstream resources and downstream sales, and to open it fairly to third-party market entities, better reflect the attributes of energy commodities, and give play to the decisive role of the market in resource allocation , To release the vitality of the competitive market, so as to better serve the national strategy, serve the needs of the people, and serve the development of the industry.

This new industrial pattern will realize the interconnection of pipeline networks, build a "national network", better allocate oil and gas resources across the country, make overall plans for construction and operation, reduce repeated investment, promote faster pipeline network construction, and improve oil and gas transportation capabilities ensure the safe and stable supply of oil and gas energy.