The company noted the benefits of investing in Jiangxi Gas, which has state-owned enterprise Petrochina Kunlun (51% stake), as a controlling shareholder and which has good connections in the natural gas related industries, as part of the strategic transformation of the group’s business.
It added that the investment in Jiangxi Gas also enables the group to enter into the natural gas related business in the Yangtze River region, and helps lay the foundation for the group’s potential development in the energy logistics business.
COSIG last year entered into a strategic cooperation agreement with the Jiujiang city government in Jiangxi province to establish coastal industries including LNG shipping and storage. It is seeking to establish and LNG industry chain in the Yangtze River basin.
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