Anhui Power Energy, a unit of Blue Sky Power Holding, has signed an LNG sale and purchase agreement with Beijing Gas Lu Yuan Da Clean Fuel Company, an associate of Beijing Gas.
Under the agreement, Anhui Power Energy will supply Beijing Luyuanda with liquefied natural gas for a period of three years starting January 1, 2017, according to the company’s statement.
The annual caps for the agreement for 2017, 2018 and 2019 have been set at RMB150 million (Approx: US$21.8 million), RMB165 million ($23.3 million) and RMB180 million ($26.1 million) respectively.
Beijing Gas has in May 2016 also become the largest shareholder in Blue Sky Power Holding, owning approximately 23.95 percent share.
With the agreement, Anhui Power Energy is looking to boost Blue Sky Power Holding’s natural gas sales as well as the group’s revenue.
1 RMB = 0.145046 USD