China announced in March it was going to spin off the pipeline operating assets of the three state oil and gas majors and create a separate entity dedicated solely to this infrastructure. The announcement was welcomed by the local energy industry and it should also be welcomed by foreign oil and particularly gas producers. In a recent note, Credit Suisse analysts said, as quoted by Bloomberg’s Dan Murtaugh, that the pipeline asset spin-off would encourage greater competition on the natural gas market and lead to lower prices, which would…
