Abstract: The key valves of pressure regulating device in the gas transmission stations of long-distance gas pipeline gets more and more. To promote the localization of natural gas pressure regulating devices, the working principles, performance characteristics and structures of the key valves were analyzed. Then, based on the actual working conditions on site, the selection and application of key valves were discussed. It is indicated that the main technical indicators of the localized key valves of pressure regulating device have reached the international advanced level of similar products, which is of great significance to drive the development of China's national manufacturing industry and boost the cost reduction and efficiency increase of oil and gas pipelines.