China National Petroleum Corporation (CNPC), the country's largest oil and gas producer, hasset basic principles for opening up its pipelines to other companies.
The group's natural gas and pipeline subsidiaries will be in charge of opening the group's pipelinenetwork to other companies when there is surplus capacity, according to a reportcarried Thursday by China Securities Journal, citing an unnamed source from CNPC.
Pipeline capacity will be contracted to other companies on a "first come, first served" basis, andthe types of oil to be carried will be decided by both signing parties, the report said.
The company will report details about its pipeline network and related contracts to the NationalEnergy Administration, which will then release the information to the public.
The move will not only raise the efficiency of pipeline use but also benefit companies eager tocapitalize on the CNPC's pipeline network.
The CNPC first unveiled trial measures for opening up its pipelines in June 2014.
http://www.neurope.eu/article/cnpc-sets-principles-opening-pipelines