THE PRC CITY GAS DISTRIBUTION FLAGSHIP OF CHINA RESOURCES GROUP
China Resources Gas Group Limited (“CR Gas”), substantially owned by China Resources (Holdings) Company Limited, one of the largest stateowned conglomerates in China, is a leading gas utilities group in China, which is principally engaged in downstream city gas distribution business including piped natural gas distribution, natural gas filling stations operation and sales of gas appliances. Its operations are strategically located in areas of China, which are economically more developed and densely populated and areas with rich reserves of natural gas.
Leveraging on the excellent industry fundamentals and the Group’s execution competency, CR Gas continues to expand rapidly in 2020 via organic and acquisition growths. In the first half 2020, CR Gas’s portfolio is consisted of 252 city gas projects in 22 provinces of China including 14 provincial capitals and 3 direct administrative municipalities with a gross gas sales volume of approximately 13.253 billion cubic meters and 38.70 million customers in the first half of 2020.
The optimization of energy structure and environmental pollution control will promote the sustainable growth of natural gas consumption in China. The PRC government has, in recent years, taken various measures to promote the development and utilization of less polluting energy sources. The natural gas industry is in sync with the core development idea of innovation, harmony, green, open and sharing as compared with conventional energy resources such as coal and crude oil. The Natural Gas Development “13th Five-Year” Plan published by the State also stresses that the popular use of natural gas will play an important role to protect the ecological environment, improve air quality, enhance life quality and health of the general public and achieve sustainable development.