BG Blue Sky entered into a LNG Supply Agreement with Kunlun Energy

May 09, 2018 23:30 JST

Source: Beijing Gas Blue Sky Holdings Limited

HONG KONG, May 09, 2018 - (Media OutReach) - Beijing Gas Blue Sky Holdings Limited ("the Company" or "BG Blue Sky", together with its subsidiaries, the "Group", Stock Code: 6828) is pleased to announce that, Beijing Blue Sky Energy, an indirect wholly-owned subsidiary of the Company, entered into a three years LNG Supply Agreement with Kunlun Energy Shandong, a wholly-owned subsidiary of KunLun Energy Company Limited (Stock Code: 0135).

Pursuant to the LNG Supply Agreement, Kunlun Energy Shandong shall purchase LNG for approximately 10 trucks (20 tons per truck) daily and for approximately 3,000 trucks (equivalent to 60,000 tons) of LNG annually. The actual amount of purchase of LNG will depend on the change of market conditions and daily purchase plan of Kunlun Energy Shandong.

According to the annual average price of the LNG of approximately RMB4,250 per ton, the Proposed Annual Caps for the period commencing from 9 May 2018 to 31 December 2018, the year ending 31 December 2019, the year ending 31 December 2020 and the period commencing from 1 January 2021 to 8 May 2021 are RMB 170 million, 225 million, 225 million and 85 million respectively.

Mr. Tommy Cheng, Co-Chairman, Chief Executive Officer and Executive Director of the Group commented: "The Agreement will strengthen our existing business in the sales of natural gas and increase our revenue. We are looking forward to further engaging in business cooperation with Kunlun Energy."

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, and 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
Tel: +852 3159 2944
Email: hill.ho@stimulus-ir.com

Source: Beijing Gas Blue Sky Holdings Limited
Sectors: Energy, Alternatives