China Resources Gas Group Limited (“CR Gas”), substantially owned by China Resources (Holdings) Company Limited, one of the largest state-owned 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 and natural gas filling stations operation. 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 2015 via organic and acquisition growths. As at 30th June 2015, CR Gas’s portfolio is consisted of 213 city gas projects in 22 provinces of China including 13 provincial capitals and 3 direct administrative municipalities with 21.9 million customers.
In order to diversify energy resources and reduce reliance on polluting energy sources such as coal and crude oil, the PRC government has, in recent years, taken various measures to promote the development and utilization of less polluting energy sources. Natural gas is considered as a cleaner and superior substitute for conventional energy sources such as coal and crude oil. The PRC government has therefore been very supportive of the development of the natural gas industry in order to meet its stated goal of natural gas making 10% or more of the total Chinese energy sources by 2020, up from the current 5% level.
CR Gas is well placed to take advantage of such a favorable operating environment and aspires to become the most respectable leader in the PRC’s downstream city gas distribution sector by continuously expanding through organic and external growths; diligently enhancing its operational efficiency in pursue of excellence; delivering a safe and reliable supply of clean energy as well as the caring, competent and efficient service to our customers; offering growing and sustainable performance to shareholders; providing extensive professional and personal development opportunities to employees; and contributing to the protection and improvement of the Chinese and global environment