China officially unveiled its long-planned national oil and gas pipeline company on Monday as part of ongoing reforms to foster high-quality development in the sector and ensure safe and stable supplies of energy resources.

Premier Li Keqiang, in an instruction issued on Monday, underlined the importance of improving the efficient allocation of oil and gas by forming fairly competitive markets in resource supply and sales.

Forming China Oil & Gas Piping Network Corp is an important measure toward deepening reform in the sector and ensuring safe and stable supply, he said.

Vice-Premier Han Zheng said at the company's launching ceremony that it must focus on services in gas and oil transmission, its main business portfolio, and the integration of local pipeline networks into national networks must be encouraged.