China Hires Morgan Stanley And Goldman Sachs To Advise On Oil And Gas Pipeline Asset Transfer

It is reported that China's top energy companies have entrusted investment banks Morgan Stanley and Goldman Sachs as advisors on multi-billion dollar transactions to transfer important oil and gas pipeline assets to a national energy infrastructure Giant.

Petroleum industry officials said that the government’s deputy prime minister has overseen and emphasized the importance of the project to Beijing. Its goal is to complete the asset transfer by the end of September and start operating the new entity.This new entity is called "PipeChina", and its purpose is to provide oil and gas producers with a neutral access to energy infrastructure and to promote non-state investment in oil and gas exploration.