EQS-News: JUSDA Energy, IDG Energy Investment Associated Company, Signed MOU with Japanese Gas Company, Opening an Import Channel for Japan-China LNG
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For Immediate Release October 14, 2019 IDG ENERGY INVESTMENT LIMITED JUSDA Energy, IDG Energy Investment Associated Company, Signed MOU with Japanese Gas Company, Opening an Import Channel for Japan-China LNG (October 14, 2019 - Hong Kong) IDG Energy Investment Limited ("IDG Energy Investment" or the "Company", stock code: 650.HK) is pleased to announce that JUSDA Energy Technology (Shanghai) Co., Ltd. ("JUSDA Energy"), an associated company of the Company, signed Memorandum of Understanding ("MOU") with a Japanese natural gas company for an unprecedented collaboration model on LNG ISO container ("Tank") logistics. LNG will be transported directly from Japanese gas sources to end-users in China by sea and land. The target annual volume is at least 200,000 tons, and the operation scale is expected to exceed 600 tanks. In 2018, China became the world's largest importer of natural gas, and China's net annual import growth rate of LNG was also the highest in the world, accounting for 59.26% of the global increase. Traditional transportation methods cannot meet the supply and demand of natural gas, while LNG tank transportation, on the other hand, features high flexibility that all other current methods lack. It is suitable for both storage and intermodal transportation, and has a short construction period. LNG tank transportation also has the support of the National Development and Reform Commission and the National Energy Administration. Established in November 2018, JUSDA Energy has grown as a result of favorable market conditions and support from policies and shareholders, and successfully secured offshore channels for importing LNG from Canada, Australia, and Europe to China in the most cost-effective way possible. In the near-term, JUSDA Energy plans to add 1,000 LNG tanks to meet its customers' growing needs. Mr. LIU Zhihai, Executive Director & President of IDG Energy Investment, commented: "This new cooperation with well-regarded gas companies in Japan demonstrates the industry's recognition of JUSDA Energy's operational capabilities and accumulated experience. At the same time, it further diversifies the available LNG import sources and routes on our "OVERSEAS LNG CHANNEL" platform. The recent low price of LNG has greatly increased the feasibility of importing spot LNG from Japan. It is precisely because of the speed, convenience, and JUSDA Energy has been able to secure this new import channel with Japan and provide a cost-effective gas supply for domestic end-users. As such, JUSDA Energy's future sees tremendous potential. As a global high-quality energy investor and asset manager, the Company is well-positioned to capture the opportunities arising from developments in the global natural gas market, and will pay close attention to importing routes and business in other LNG-sourcing countries in Southeast Asia, and continue to support JUSDA Energy's business development." - End - The Company is currently focusing on China's continued deepening of energy system reforms, increasing demand for natural gas, and the investment opportunities arising from the emerging North America liquefied natural gas ("LNG") export market due to abundant low-cost shale gas supply. The Company's current portfolio covers China's first non-state-owned LNG receiving terminal, one of the largest Canadian LNG export terminals under development, a fully permitted greenfield LNG export terminal in the United States (the "U.S."), as well as a LNG supply chain and logistic services provider. The Company also serves as the manager of an energy asset fund. The Company's other energy asset investments include an upstream crude oil block in China and a world-class shale oil block in Eagle Ford, Texas of the U.S., etc. For further information, please refer to IDG Energy Investment's website: About JUSDA Energy Technology (Shanghai) CO., LTD. This press release is disseminated by Financial PR (HK) Limited on behalf of IDG Energy Investment Limited. Financial PR (HK) Limited
Document: http://n.eqs.com/c/fncls.ssp?u=JBYTNXSIRC Document title: JUSDA Energy, IDG Energy Investment Associated Company, Signed MOU with Japanese Gas Company, Opening an Import Channel for Japan-China LNG
14/10/2019 Dissemination of a Marketing Press Release, transmitted by EQS Group. |
