China Gas Holdings inks multiple green energy pacts
SUMMARY
These agreements, signed in the past few months, cover natural gas, hydrogen and renewables.
By Shardul SharmaPOSTED IN:
Hong Kong-listed gas retailer China Gas Holdings has signed multiple agreements in recent months to expand its green and alternative energy activities, it said on November 16.
In March this year, the company signed a pact with Sinopec to cooperate in areas such as natural gas procurement, LNG receiving terminal utilisation, downstream gas projects, oil, gas and hydrogen stations/recharging poles, and LPG business.
China Gas Holdings inked an agreement with CNOOC Gas and Power, a unit of Chinese state-run CNOOC, to jointly develop hydrogen as an energy source. In June, it penned an agreement with LONGi Green Energy Technology Co. to promote the development of photovoltaic applications, green hydrogen, and other new energy projects across China.
China Gas Holdings also said it had repurchased 84mn ordinary shares, which is about 1.5% of total existing issued shares, since May 2021. In addition, Beijing Enterprise Holdings, the single largest shareholder of the company, acquired an aggregate of 32mn shares of China Gas Holdings in October. It now holds 22.81% of the total issued shares of China Gas Holdings.
