China pays special attention to innovative developments. On December 9, Monday, the country announced the establishment of a new national oil and gas pipeline company. It became relevant due to reforms in the energy sector. The latest decision of Chinese authorities was the first step on the way to the reorganization of the oil and gas industry. Earlier, China planned to incorporate the pipelines of three state-owned energy giants, China National Petroleum Corp. (CNPC), Sinopec Group, and China National Offshore Oil Corp. According to preliminary estimates, such a measure will help to increase oil and gas production in the country, as well as reduce the amount of coal used in power engineering. Chinese authorities introduced the idea of a national pipeline company in 2014. They believe that such a union will boost gas supply opportunities in the country. It is also expected that other small private and foreign companies will get access to the common pipeline network. According to experts, PetroChina Co. is going to be affected the most by the current reform. The company is a subdivision of CNPC, a Chinese energy giant, which controls 70% of the country’s pipelines. Therefore, experts are concerned that PetroChina’s revenue can plummet as a result of the merge.