Changfeng Energy Enters Gas Supply Contract with CNOOC, China

Published: April 6, 2016 |

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Changfeng Energy Inc.‘s wholly owned subsidiary, Sanya Changfeng Offshore Natural Gas Distribution Co., Ltd. has finalized and signed the gas supply contract with Hainan Fuel Chemical Co., Ltd., a subsidiary of China National Offshore Oil Corporation (CNOOC). A gas quota of approximately 25 million cubic meters (883 million cubic feet) will be secured and provided to the company in 2016 at a favorable price by CNOOC.

The price under the new contract, while higher than under the previous 24 million cubic meter gas quota with CNOOC, remains favorable compared with the market price. It is expected that the gross margin for gas distribution utility in Sanya for 2016 will be lower than in previous years. It is anticipated that a new gas supply contract will be signed when this contract expires.

About Changfeng Energy Inc.
Changfeng Energy Inc. is a natural gas service provider with operations located throughout the People’s Republic of China. The company services industrial, commercial and residential customers, providing them with natural gas for heating purposes and fuel for transportation. The company has developed a significant natural gas pipeline network as well as urban gas delivery networks, stations, substations and gas pressure regulating stations in Sanya City & Haitang Bay. Through its network of pipelines, the company provides safe and reliable delivery of natural gas to both homes and businesses. The company is headquartered in Toronto, Ontario.

To stop by Changfeng’s website, CLICK HERE

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