TEDA Inks Investment Agreements with PipeChina
Recently, TEDA Administrative Commission signed investment cooperation agreements with four secondary headquarters entities of PipeChina (China Oil & Gas Pipeline Network Corporation). Specifically, these four companies are: PipeChina Storage and Transportation Technology Development Company, PipeChina Scientific and Technological Research Institute Branch, PipeChina Engineering Technology Innovation Company, and PipeChina LNG Receiving Terminal Management Branch. PipeChina plans to establish a secondary headquarters base in TEDA and a comprehensive research facility integrating scientific research, testing and verification, and achievement incubation, promotion & application. With these, PipeChina aims to create an energy pipeline business ecosystem for market development, scientific and technological R&D, and storage and transportation technology services in the Bohai Sea Rim, and ultimately foster an energy hub in the region.
PipeChina is a backbone state-owned enterprise under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council. It is the largest specialized energy infrastructure operator in China, mainly engaged in the investment, construction, and operation of trunk pipelines for oil and gas, as well as gas storage and peak load regulation facilities. The four signatory companies are all secondary headquarters entities of PipeChina in Tianjin. Respectively, they are responsible for functions such as pipeline inspection and maintenance, storage and transportation technology R&D and experimentation, storage and transportation engineering design and technological innovation, and management and operation of LNG receiving terminals.
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