Xinhua, Beijing :
Three Chinese oil and natural gas giants including CNPC, Sinopec and CNOOC will likely spin off their pipeline assets into a new pipeline network company, the Xinhua-run cnstock.com reported on Friday.
Proportion of their stakes in the new company will be determined by the valuation of their pipeline assets. The new company is expected to be valued at approximately 300 billion yuan to 500 billion yuan.
According to the report, after the new pipeline network company has acquired assets, it plans to introduce social capital including state investment funds and private capital and bring the proportion of the social capital in the company to be about 50 percent.
