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China Tian Lun Gas Expands into Long-Haul Transmission Pipeline...

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    China Tian Lun Gas Expands into Long-Haul Transmission Pipeline Business Press Release: China Tian Lun Gas Holdings Limited – Sun, Sep 28, 2014 10:21 PM AEST It partners with Inner Mongolia Transportation and Investment to establish Inner Mongolia Oil and Gas in Inner Mongolia, planning to build two natural gas pipelines and three clean oil pipelines within five years Hong Kong, Sept 28, 2014 - (ACN Newswire) - China Tian Lun Gas Holdings Limited ("China Tian Lun Gas" or the "Group"; stock code: 1600.HK), a gas operator and distributor with nationwide coverage in China, has formed a joint venture Inner Mongolia Oil and Gas Investment Joint-stock Co., Ltd. with Inner Mongolia Transportation and Investment Co., Ltd. and Inner Mongolia Minghua Energy Group Co., Ltd. and the inaugural ceremony was held in Beijing on 28 September 2014. Inner Mongolia Autonomous Region is an important energy base in the PRC. In order to strengthen the output of clean energy in Inner Mongolia, to protect national energy supply safety and treat regional haze issues, the government of Inner Mongolia Autonomous Region has reached an agreement with those of four provinces and cities including Beijing, Tianjin, Hebei and Shandong in relation to the "4+1" clean energy transmission. To achieve this end, Inner Mongolia Transportation and Investment Co., Ltd. took the lead in establishing Inner Mongolia Oil and Gas Investment Joint-stock Co., Ltd. as an oil and gas investment company with mixed-ownership, which is controlled by state-owned capital with investments from private capital. Inner Mongolia Oil and Gas has an initial registered capital of RMB1.5 billion, with RMB600 million to be contributed by Inner Mongolia Transportation and Investment Co., Ltd. which will hold its 40% equity interest, RMB500 million to be contributed by China Tian Lun Gas Holdings Limited which will hold its 33.33% equity interest, and RMB400 million to be contributed by Inner Mongolia Minghua Energy Group Co., Ltd. which will hold its 26.67% equity interest. Founded in June 1997, Tian Lun Group has its business covering natural gas, real estates and investing and is a large conglomerate with total assets of over RMB10 billion and a Hong Kong-listed company and more than 50 subsidiaries. It has been recognised as a "Most Innovative Enterprise" for several consecutive years. China Tian Lun Gas Holdings Limited under the Tian Lun Group became listed on the Main Board of disallowed of Hong Kong Limited (stock code: 1600HK) in November 2010 and has a market capitalisation of over HK$8 billion, ranking among the top listed gas companies. With a registered capital of RMB10.9 billion, Inner Mongolia Transportation and Investment is a large wholly state-owned enterprise supervised in accordance with the standards for Class I large state-owned enterprises (Department Level). Its principal functions and responsibilities are investment, financing, operation and management of major transportation and infrastructure projects relating to railway, civil aviation and ports on behalf of the government of Inner Mongolia Autonomous Region, and it serves as a vital infrastructure investing and financing platform in the Inner Mongolia Autonomous Region. Inner Mongolia Minghua Energy Group Co., Ltd. is a conglomerate focusing on energy industry. In 2013, it had total assets of RMB11 billion and operating revenue of RMB11.3 billion, and paid taxation of RMB380 million, ranking 7th among the top 100 private enterprises in Inner Mongolia. The joint venture proposes to construct two natural gas (including coal-made gas) transmission pipelines for transportation of gas generated by gas fields and oil fields, coal bed methane, coke oven gas and coal-made gas from Inner Mongolia Autonomous Region to Beijing, Tianjin, Hebei and Shandong for sale. With a designed initial transmission capacity of 50 billion m3/year, the natural gas transmission pipelines have a total length of 2,930 kilometres and the total investment amount is expected to be RMB55 billion. Certain proposed projects of the joint venture are summarised as follows: 1. Eastern Inner Mongolia Natural Gas Transmission Pipeline (Phase I) It proposes to build the Hulun Buir-Tianjin-Hebei natural gas transmission pipeline, with a total length of 1,830 kilometres, of which the length of the pipelines within Inner Mongolia will amount to 1,400 kilometres. With a designed transmission capacity of 20 billion m3/year, the total investment amount is expected to be RMB33 billion. 2. Western Inner Mongolia Natural Gas Transmission Pipeline (Phase II) It proposes to build the Ordos-Tianjin-Shandong natural gas transmission pipeline, with a total length of 1,100 kilometres, of which the length of the pipelines within Inner Mongolia will amount to 340 kilometres. With a designed transmission capacity of 30 billion m3/year, the total investment amount is expected to be RMB20 billion. The Joint Venture is also considering constructing three clean oil products (including coal-made oil and methanol gasoline) transmission pipelines for transportation of clean oil products from Inner Mongolia Autonomous Region to Beijing, Tianjin, Hebei and Shandong for sale, with a designed initial transmission capacity of 18 million tonnes/year. According to an officer at Tian Lun Gas, the joint venture is established in response to China's macro-economic environment. In respect of government policies, it meets the requirements in the Outline of the Eleventh Five-Year Plan issued by the PRC government that the future development plan for petroleum and natural gas will mostly focus on two areas, being the diversification of investors and the diversification of resources. The Certain Opinions of the State Council on Encouraging and Guiding the Healthy Development of Private Investments (the 36 New Rules) promulgated by the PRC government expressly encourage private capital to participate in the development of oil and natural gas business. The government will also support private capital in entering the area of exploration and development of oil and gas by partnering with state-owned petroleum enterprises to participate in the exploration and development of oil and gas. It will also support private capital in investing in the construction of storage, transportation and pipeline transmission facilities and network for crude oil and petroleum products. In respect of operation, the completion of five pipelines will strengthen the competitiveness of Tian Lun Gas in its expansion of natural gas terminal business and will be capable of providing gas resources to support the development of these operations. Since its listing, Tian Lun Gas has achieved rapid strategic expansion in the PRC and its operations covers ten provinces and municipalities. From 2011 to 2013, its revenue grew at a compound annual growth rate of 42.2% and profit attributable to its equity holders grew at a compound annual growth rate of 42.9%. In the first half of 2014, its revenue increased by 43.9% year-on-year and profit attributable to its equity holders rose by 42% year-on-year. Its expansion into upstream business by constructing long-haul transmission pipelines will hopefully have a profound impact on the business scale of Tian Lun Gas. About China Tian Lun Gas Holdings Limited China Tian Lun Gas Holdings Limited (stock code: 1600.HK) is a gas operator and distributor with nationwide coverage. Under its mission of "developing clean energy, improving the living environment", the company invests in gas-related businesses that are closely connected to the daily lives of the people of China, which includes gas pipeline connection and the transportation, distribution and sale of gas; construction and operation of gas filling stations; and production and sale of LNG. The company was listed on the Main Board of the Hong Kong Stock Exchange on 10 November 2010, and was named "Enterprises with Most Potential in the PRC" by Forbes China in 2012 and 2014. Indicative of its fast growth, the company has extended its reach from Henan to 10 provinces, comprising Jilin, Hebei, Shandong, Henan, Hunan, Chongqing, Guangdong, Guangxi, Yunnan and Gansu, from late 2010 to April 2014. Its city gas projects also increased from 3 to 43, and gas filling stations rose from 2 to 27. It has also become an upstream gas supplier, presently operating 7 CNG primary gas filling stations, with 3 LNG processing plants under construction. Company website: http://www.tianlungas.com Contact: Strategic Financial Relations Limited Brenda Chan +852 2864 4833 [email protected] Cornia Chui +852 2864 4853 [email protected] Amelie Ng +852 2114 4903 [email protected] Copyright 2014 ACN Newswire. All rights reserved.
    https://au.finance.yahoo.com/news/china-tian-lun-gas-expands-122100180.html
 
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