Abstract: In this paper, the author reviews the modification of China's energy source structure in recent years, predicates the construction and development prospect of China's crude oil, natural gas and products pipelines and describes the necessity and importance in establishing petroleum strategic reserves as fast as possible. The author points out that China's pipeline industry should learn from advanced management experiences of foreign famous enterprises and abides by international practice in oil and/or gas pipeline construction in order to improve overall technology level of China's oil and gas storage and transportation industry in an all-round way.