China’s CNPC said to seek creation of single gas company

• China National Petroleum (NYSE:PTR) may combine units to create a single natural gas company to compete with private rivals, ahead of an inflow of Russian fuel at the end of the decade, Bloomberg reports.
• The plan under consideration would be for CNPC’s Hong Kong-listed Kunlun Energy unit to buy unlisted gas distributor PetroChina Kunlun Gas.
• CNPC’s desire to combine commercial sales of liquefied natural gas with retail gas distribution is not new; a plan was thwarted last year by a government graft probe that snared two Kunlun Energy chairmen.