China Gas Holdings Limited (CGHOF)
- Reuters
Analysis-China policy reform to end losses for city-gas firms on household sales
Policy reform in China will boost profit for city-gas distributors by letting them raise prices for residential sales above costs, after years of selling piped gas to households at a loss, according to utility officials and analysts. The scheme, which allows retail residential tariffs to be adjusted twice a year in line with gas procurement costs, will inject billions of dollars in revenue into companies like ENN Energy Holdings, China Gas Holdings and China Resources Gas, utility officials said. Higher households tariffs - as much as 20% higher in certain cities - should also help alleviate some of the pain distributors felt last year, when China's gas use declined for the first time in two decades as COVID hammered the economy and lofty global liquefied natural gas (LNG) prices hurt imports.
- CNW Group
Venture Global and China Gas Sign Two 20-year Long-Term LNG Agreements
Today, Venture Global LNG and China Gas Holdings Limited ("China Gas" or the "Group"; stock code: 384), a leading natural gas operator in China, announced that the wholly-owned subsidiary China Gas Hongda Energy Trading Co., LTD ("China Gas Hongda") and Venture Global LNG ("Venture Global"), have signed two 20-year LNG Sales and Purchase Agreements (SPA).
- Reuters
UPDATE 3-China Gas Holdings signs two 20-year LNG supply deals with Venture Global
China Gas Holdings , one of China's largest independent gas distributors, has agreed to two 20-year liquefied natural gas (LNG) supply contracts with U.S. exporter Venture Global, adding to a flurry of deals signed between China and the U.S. since 2021. China Gas Holdings, via its wholly owned subsidiary China Gas Hongda Energy Trading Co, would buy a total of two million tonnes per year of LNG from Venture Global under the two contracts, the company said in a statement. Supply would begin in 2027, a company executive told Reuters.
