Sinopec said it will sell half of its premium natural gas pipeline business to investors.
The move is spurred by Beijing’s reform push to help boost efficiency and increase infrastructure investment in cleaner fuel.
The company said it would hold 50% in the Sichuan-East China pipeline project after the completion of the divestment plan that has won board approval.
Sinopec has spent $9.45billion to build the pipeline which runs 2,200kilometres from the southwestern province of Sichuan.