Potential offtaker

China Resources Gas Group Limited

www.crcgas.com

Estimated electricity consumption

N/A

Countries of production presence

N/A

China Resources Gas (CR Gas) is a leading natural gas distributor in Hong Kong, providing safe, reliable and clean energy solutions to the local community. The company is committed to promoting decarbonisation and sustainable development, and has been actively exploring new business models and technologies to reduce carbon emissions and enhance energy efficiency.

As a subsidiary of China Resources Holdings, one of the largest state-owned conglomerates in China, CR Gas has a strong financial and operational support from its parent company. With a market capitalisation of over HKD 50 billion, CR Gas is listed on the Hong Kong Stock Exchange and has a diversified portfolio of businesses, including city gas distribution, liquefied petroleum gas (LPG) distribution, natural gas vehicle (NGV) refuelling, and gas appliance sales and services.

One of the key strategies of CR Gas is to promote corporate energy solutions, which help businesses to reduce their carbon footprint and energy costs. The company offers a range of services, such as energy audits, energy management systems, and renewable energy solutions, to help corporate customers to improve their energy efficiency and sustainability performance. CR Gas also provides corporate power purchase agreements (PPAs), which enable businesses to purchase renewable energy directly from the source, and support the development of new renewable energy projects.

In recent years, CR Gas has been actively promoting decarbonisation and renewable energy, in line with the Hong Kong government's target to achieve carbon neutrality by 2050. The company has set a target to reduce its carbon intensity by 40% by 2030, and has been investing in new technologies and infrastructure to achieve this goal. For example, CR Gas has been expanding its natural gas refuelling network for NGVs, which emit significantly lower greenhouse gas emissions than traditional petrol and diesel vehicles. The company has also been exploring new renewable energy projects, such as solar power and biogas, to diversify its energy mix and reduce its reliance on fossil fuels.

One of the recent initiatives of CR Gas is the development of a renewable energy hub in Hong Kong, which aims to promote the use of renewable energy and energy storage technologies. The hub will include a solar power plant, a battery energy storage system, and a hydrogen refuelling station, which will provide clean energy solutions to the local community and support the development of new renewable energy projects. The hub is expected to be operational by 2022, and will contribute to the decarbonisation of the Hong Kong energy sector.

In addition to its commitment to decarbonisation and renewable energy, CR Gas has also been actively engaging with the community and stakeholders to promote sustainable development. The company has established a sustainability committee, which oversees its sustainability strategy and performance, and has been conducting regular stakeholder engagement activities to understand the needs and expectations of its stakeholders. CR Gas has also been promoting environmental education and awareness, through various community outreach programmes and partnerships with schools and NGOs.

In conclusion, China Resources Gas is a leading natural gas distributor in Hong Kong, which is committed to promoting decarbonisation and sustainable development. The company offers a range of energy solutions, including corporate energy, corporate PPAs, and renewable energy, to help businesses and the community to reduce their carbon footprint and enhance their energy efficiency. With its strong financial and operational support from its parent company, CR Gas is well positioned to play a leading role in the transition towards a low-carbon and sustainable energy future.

✓ Declared Net Zero commitment