Yuan Heng Gas in LNG deal with Qujing Gas
Yuan Heng Gas, the Hong Kong-based investment company, on Friday signed an agreement with Qujing Gas for the supply of liquefied natural gas for Yunnan copper and zinc industry users in Maguan County, in the Chinese Yunnan Province.
Under the agreement, Qujing Gas shall be responsible for the supply of LNG to the industrial users, a filing to the Hong Kong stock exchange reveals.
The company will also be responsible for the investment in the project’s regasification facility, management of the gas transmission business of gas supply units on a daily basis as well as for the maintenance and repair of the gas supply facilities.
Yuan Heng Gas’ unit, Guangzhou Yuanheng, shall be responsible for the gas purchase and transmission of sufficient gas volumes to the supply point.
Yuan Heng Gas, through its two units, owns over 50 LNG tanker trucks distributing the chilled fuel to the majority of regions in China, according to the company’s website.
Qujing Gas is a sino-foreign jointly owned enterprise of Yunnan Petrochemical Gas engaged in liquefied natural gas projects in China’s south-west market.
LNG World News Staff