Shanxi intensifies exploitation of clean energy

( chinadaily.com.cn )

Updated: 2017-01-16

Gemeng International Energy Co Ltd reached a strategic agreement with China Gas Holdings Limited in Taiyuan on Jan 15 to co-develop the area’s natural gas resources and the province’s preponderant coal bed for methane extraction.

The contract is signed in the presence of Shanxi provincial officials and senior business executives including the province’s Deputy Governor Wang Yixin, China Gas’s Chairman Liu Minghui, and Shanxi International Energy’s Chairman Guo Ming. [Photo/sx.xinhuanet.com]

According to the agreement, the two sides will optimize Shanxi’s energy supply infrastructure and system with joint efforts, including building energy transportation pipelines, and the project to promote universal use of natural gas in power plants. They agreed to co-develop natural gas and coal bed methane in order to meet the demands of various purposes and to improve Shanxi’s capacity for environment protection, energy saving, and emission reduction.

Gemeng International Energy Co Ltd is a joint venture based in Shanxi and co-founded by one of the province’s key enterprises, Shanxi International Energy Group (SIEG) and two world top 500 corporations, Korea Electric Power Corp and Deutsche Bank. SIEG holds the most shares of the firm, which has a registered capital of 10 billion yuan ($1.45 billion).

China Gas Holdings Limited is one of the country’s major gas operators and service providers. It is a company listed on the main board of the Hong Kong Stock Exchange. At present, the organization has completed over 300 natural gas projects in China and it owns the rights to import-export operations in liquefied natural gas and liquefied petroleum gas sectors.

Wang Yixin, Shanxi province’s vice governor, talks with China Gas’s Chairman Liu Minghui at a meeting held before the signing ceremony. [Photo/sx.xinhuanet.com]