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Rabu, 04 September 2019 06:07:00

Beijing Gas Blue Sky entered into Cooperation Agreements with China Sam and Sinoenergy Corp, To further tamp the Group's whole LNG industry chain advantages

HONG KONG, - 2 September 2019 - Beijing Gas Blue Sky Holdings Limited ("the Company" or "Beijing Gas Blue Sky", together with its subsidiaries, the "Group", HKSE stock code: 6828) is pleased to announce that, the Company entered into cooperation framework agreements (the "Cooperation Agreements") with China Sam Enterprise Group Co., Ltd. ("China Sam"), a national high-tech enterprise, and Changchun Sinoenergy Corporation ("Sinoenergy Corp"), a company listed on the Shanghai Stock Exchange.
 
DETAILS OF THE COOPERATION AGREEMENTS
 
Cooperation with China Sam
 
The Company entered into a cooperation agreement with China Sam to establish a comprehensive strategic cooperation in terms of, among other things, (i) establishment of a close business relationship; (ii) exploration of the opportunities on the Belt and Road Initiative; (iii) establishment of fund for the merger and acquisition of companies in natural gas industry; (iv) utilisation of the Chaozhou and Jiangyin liquefied natural gas ("LNG") receiving terminals invested by Sinoenergy Corp to secure low cost and stable supply of LNG; and (v) collaboration on oil and gas exploration, etc.
 
Founded in 1985 and headquartered in Beijing, China Sam is a national high-tech enterprise. The businesses of China Sam and its subsidiaries cover energy, chemical, investment, international trade, film and security etc. Shenyu Chemical Oil & Gas Co., Ltd., an indirectly-owned subsidiary of China Sam, became the actual controller of Sinoenergy Corp in July 2019.
 
Cooperation with Sinoenergy Corp
 
The Company also entered into a cooperation agreement with Sinoenergy Corp to establish a comprehensive strategic cooperation in terms of, among otherthings, (i) collaboration on energy project; (ii) establishment of a close business relationship in relation to logistic and trading of energy resource and LNG supply; and (iii) collaboration on oil and gas exploration, etc.
 
Sinoenergy Corp is a company listed on the Shanghai Stock Exchange (Stock code: 600856) and is principally engaged in the production and sales of oil and natural gas, development, manufacture and sales of natural gas storage and transportation equipment, mergers and acquisitions, investment and operation of overseas oil and gas assets, and import distribution of overseas natural gas and crude oil related products.
 
Sinoenergy Corp has two LNG receiving terminals that are located in Yangtze River Delta economic belt and Pearl River Delta economic belt respectively. The two receiving terminals are scheduled to put into operation at the end of 2020 and it is expected that their processing capacities each will increase to 2 million tons per year in 2025. In addition, Sinoenergy Corp owns several oil and gas fields in North America with a total of billions of barrels of geological reserves.

In terms of natural gas production and sales, Sinoenergy Corp has about 20 gas stations in Hubei and Jiangsu with an annual sales volume of over 100 million cubic meters, and has about 40 LNG industry direct supply projects in Zhejiang and Jiangsu with an annual sales volume of over 600 million cubic meters. For the LNG plant in Wuhan, it is expected to have a daily output volume of approximately 500,000 cubic meters after putting into operation. (*).
 

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