The divestment plan, which has already won board approval, would leave Sinopec with 50% in the Sichuan-East China pipeline project on completion, according to a statement cited by Reuters.
No details were given though of which assets were targeted for disposal or when the sale would be completed.
Beijing is looking to stimulate fresh investment in the country’s patchy gas pipeline infrastructure, which currently spans 90,000 kilometres – less than a fifth of the US’ network – and has inadequate capacity to cope with domestic demand.
This
