In my apartment, under my stairway, I have this small storage space with a pipe running through it. The walls are mostly unfinished. The walls in question are obviously interior. I would like to drywall over the remaining bare areas except for the area between the two studs where the pipe is running. I believe the pipe may be a main line leading to the boiler room below. My questions are: Is there anything wrong with drywalling around it and should I insulate if I do so? This is in BC, Canada.