CCNG wins exclusive gas pipeline operating rights in Jing'an County
Shanghai. August 2. INTERFAX-CHINA - China City Natural Gas Co. Ltd (CCNG) has won exclusive 30-year rights to construct and operate gas pipelines in Jing'an County of Yichun City, Jiangxi Province, its parent company China Oil Gas Group announced Aug. 1.
The rights also cover the construction of natural gas regulation stations and gas cylinder stations in the county, the announcement said.
Guangdong Province-based CCNG will form a local subsidiary named Jing'an China Oil Gas Co. Ltd. (Jing'an COG) to manage the project, which is expected to require a total investment of RMB 50 million ($7.76 million), the announcement said.
CCNG is a joint venture between China Oil Gas Group and Kunlun Energy Co. Ltd., a subsidiary of China National Petroleum Corp. The two firms hold stakes of 51 percent and 49 percent, respectively.
Another CCNG unit, CNPC Gas Nanchang Co. Ltd., has exclusive gas operating rights for three administrative regions in Jiangxi's provincial capital of Nanchang, the announcement added.
China Oil Gas Group has 67 gas projects across 10 administrative regions in China.
-HD