China’s oil and gas industry is controlled by 3 national companies: CNCP, Sinopec and CNOOC. CNCP and Sinopec operate nearly all of China’s refineries and pipeline systems and CNOOC competes on the international scene. In addition to these three national companies, in 2005 the first private O&G company started operations (Great Wall Petroleum Group). China is aiming for natural gas to account for 5% of the national energy mix by 2010 and wants LNG to play an increasing role in meeting this target.