China Gas Holdings Ltd says it has entered into a strategic cooperation framework agreement with China National Offshore Oil Corp. (CNOOC)’s CNOOC Gas and Power Group Co., Limited, which will see a major rollout of vehicle and vessel refuelling infrastructure, other downstream projects and intermodal transportation projects for LNG tank containers.
Both parties agreed that the cooperation between the parties in the related field of natural gas will be conducive to exploiting their respective advantages and jointly promote the development of the entire industrial chain of natural gas.
The strategic cooperation framework agreement includes the following objectives:
(i) Vehicle and vessel refilling projects
1. Vessel refilling station projects
Both parties agreed to use their respective resources to jointly build vessel refilling stations; CNOOC Gas and Power Group will leverage on its advantages of liquefied natural gas (LNG) receiving terminals and resources to promote the development and cooperation, and China Gas Holdings will support the projects with its advantages in planning sites, ports and resources.
2. Vehicle refilling station projects
Both parties agreed that they may select appropriate existing vehicle refilling projects of the China Gas Holdings to carry out equity cooperation, and may seek for cooperation on new projects in vehicle refilling business at the same time. Regarding the vehicle refilling projects for equity cooperation between both parties, CNOOC Gas and Power Group will secure and provide resources for the cooperative vehicle refilling projects under the principle of market-oriented pricing of resources for the demand in the regions covered by the infrastructure of CNOOC Gas and Power Group.
(ii) Other downstream projects
In addition to vehicle and vessel refilling projects, the parties will select high-quality downstream projects, which include but not limited to city gas, rural coal-to-gas replacement, industrial park gas supply, coal-fired boiler renovation, LNG point-to-point supply, co-generation, and distributed energy.
(iii) Intermodal transportation projects for LNG tank containers
Both parties agreed to establish an intermodal transportation joint venture for LNG tank containers, and China Gas Holdings is responsible for the professional logistics management and operation. Leveraging on the resource advantages of CNOOC Gas and Power Group, and by fully capitalizing the layout of downstream projects and the logistics system advantages of China Gas Holdings, both parties will jointly promote the investment, construction and operation of the intermodal transportation projects for LNG tank containers and expand the presence of the downstream market.
The Group believes that the national green development concept of accelerating reform and innovation and developing clean energy will continue to promote the growth of the entire natural gas industry in the future.
A full version of the press release may be viewed on the China Gas Holdings Ltd website.
As at 31 March 2017, China Gas Holdings owned a total of 580 CNG/LNG refilling stations for vehicles. The sales volume of CNG/LNG for vehicles made up 14.3% of the Group’s natural gas sales volume from city gas projects during the financial year.
Source: China Gas Holdings Ltd
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