PetroChina gas grid stake sale to spur competition

China National Petroleum Corp's impending plan to divest a portion of its stake in natural gas pipelines will spur competition in the oil and gas industry, experts said on Friday.

On Thursday, CNPC, better known as PetroChina, was reported to be in discussions to sell a stake worth $47 billion in its domestic gas pipelines to third parties, according to Reuters.

"CNPC's plan to delink its natural gas pipeline network is in line with the country's gas and oil reforms," said Lin Boqiang, director of the energy research center at Xiamen University.