Robust Growth in Natural Gas Consumption Should Benefit China’s City Gas Operators
According to National Development and Reform Commission, China’s natural gas apparent consumption was up 11.4% year over year in the first four months of 2019. While the growth was slower than the 17.7% witnessed over the same period last year, we think this is partly due to a milder winter in early 2019. Going forward, we believe gas demand will remain robust at double-digit growth as the Chinese government remains committed to increasing the consumption of natural gas to tackle pollution issue...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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