China Resources Gas is well placed to benefit from China’s supportive natural gas policies.
China Resources Gas Group is a state-owned gas utilities group in China engaging in downstream city gas distribution. We expect CRG to generate returns above its cost of capital over the next decade, supporting our narrow moat rating.After a slowdown in CRG’s natural gas sales volume growth to 9% in 2015 from 14% the year before, we project that growth will rebound to 15% in 2016, owing to the reduction of city gate prices by the government in November 2015, which should stimulate gas demand. Ch...China Resources Gas Group is an investment holding company. Co. operates a gas utilities group in China that is principally engaged in downstream city gas distribution business including piped natural gas distribution and natural gas filling stations operations. Co. and its subsidiaries' operating segments are as follows: sale and distribution of gas fuel and related products; which is engaged in the sale of natural gas and liquefied petroleum gas for residential, commercial and industrial use; and Gas connection, which engaged in the construction of gas pipelines networks under gas connection contracts.
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