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HONG KONG, July 12, 2018 - (Media OutReach) - Industrial Securities issued a research report on Beijing Gas Blue Sky Holdings Limited ("the Company" or "BGBS", together with its subsidiaries, the "Group", HKSE stock code: 6828). The report states that BGBS has completed the acquisition of 29% equity interest of a LNG terminal in Caofeidian, Tangshan. It enables the Company to seize the opportunity of selling natural gas and importing LNG. In 2018, it is expected to see a significant growth in revenue of BGBS.
According to the report, the PRC government is committed to improving energy consumption structure and promoting the "coal to gas" policy, which result in rapid increase of natural gas demand. It is a must to increase the import of LNG to ease the uneven supply and demand in the natural gas industry in the PRC. The acquisition of the Caofeidian LNG terminal enables the Company to enter the market and gain a stable market share. It helps to further promote the strategic development of the Company's entire business chain of LNG, as well as to improve its financial performance.
Industrial Securities expected that the acquisition of Jilin and Shaanxi projects (three city gas projects) will greatly increase the gas sales volume of the Company this year. In addition, Industrial Securities is optimistic of the acquisition of the Teng County Project, first city gas asset injected by Beijing Gas. Teng County is the second largest regional titanium reserve in the PRC. The project has a 30 years of franchise operation right and mainly supply natural gas to industrial users (ceramics and titanium). It is expected to contribute 300 million cubic meters of annual gas sales volume in the coming years.
About Beijing Gas Blue Sky Holdings Limited
Beijing Gas Blue Sky Holdings Limited ("Beijing Gas Blue Sky", HKSE stock code: 6828) is an integrated natural gas provider, distributor and operator, with an emphasis on the midstream and downstream natural gas development. Our natural gas business includes: (i) construction and operation of compressed natural gas ("CNG") and liquefied natural gas ("LNG") refueling stations for vehicles; (ii) construction of natural gas pipelines and operation of city gas projects by providing piped gas; (iii) direct supply of LNG to end-users; and (iv) trading and distribution of CNG and LNG.
The Group has adapted to the "One Belt One Road" policy, and focus on operating and investing natural gas business. The Group is actively expanding its business development and distribution, as well as continues to gradually expanding the scale of operations. Currently, the Group has business presence in several provinces in Northeast China, East China, Central South China and Southwest China, including Liaoning Province, Shandong Province, Anhui Province, Zhejiang Province, Hubei Province, Guizhou Province, Sichuan Province and Hainan Province, etc. The Group is committed to its vision: "develop clean energy, enhance customer value, create a beautiful blue sky". In the future, it will continue to actively investing and developing natural gas business, as well as participating in the development of natural gas industry value chain.
For media inquiries, please contact:
Stimulus Investor Relations Ltd.
Contact: Ms. Hill Ho / Mr. Michael Yeung
Tel: +852 3159 2944 / +852 3159 2994
Email: hill.ho@stimulus-ir.com / michael.yeung@stimulus-ir.com
Topic: Press release summary
Source: Beijing Gas Blue Sky Holdings Limited
Sectors: Energy, Alternatives
http://www.acnnewswire.com
From the Asia Corporate News Network
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| Beijing Gas Blue Sky Holdings Limited |
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BGBS entered into Strategic Cooperation Agreement with KunLun Guizhou Co. |
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BGBS completed the acquisition of 29% equity interest of a LNG terminal in Caofeidian, to further promote the strategic development of entire business chain of LNG |
| May 16, 2018 19:15 HKT/SGT |
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BGBS duly passed the acquisition of 29% equity interest of a LNG terminal in Caofeidian |
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BG Blue Sky entered into a LNG Supply Agreement with Kunlun Energy |
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Beijing Gas Blue Sky acquires 29% equity interest of LNG terminal in Caofeidian, consideration approximately HK$1200 million |
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