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Investment in clean energy infrastructure
Fortune Oil is one of the main shareholders of China Gas Holdings Limited “CGH” (HKEX: 384). CGH is one of China’s the largest cross-regional integrated energy suppliers and service providers. Focusing on China, it is primarily engaged in the investment, construction, and operation of city and township gas pipeline infrastructure, gas terminals, storage and transportation facilities, and gas logistics systems to deliver natural gas and liquefied petroleum gas (LPG) to residential, industrial and commercial users. CGH also constructs and operates compressed natural gas (CNG)/liquefied natural gas (LNG) refilling stations while developing and applying natural gas and LPG technologies. In addition, leveraging its extensive gas consumer base, it has developed a full-fledge portfolio of value-added services, distributed PVs, electricity distribution, and charging stations to create a diversified business structure.
As of 31 March, 2023, CGH has secured over 661 urban piped gas projects with concession rights in 30 provinces, municipalities, and autonomous regions. Additionally, it operates over 533 natural gas (CNG/LNG) vehicle and vessel refuelling stations, over 106 LPG terminal distribution projects, 1 CBM development project, 32 long-distance natural gas pipeline projects, 7 LPG terminals, 7 large petrochemical storage bases, 1 offshore transportation fleet, and several onshore dangerous transportation fleets. The total gas pipeline network exceeds 550,000 kilometres, with an annual natural gas sales volume of 39.2 billion cubic meters, over 50 million piped gas and bottled LPG users, and gas supply covering an urban population of over 200 million.