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BG Blue Sky enters into a LNG supply agreement with Kunlun Energy

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LNG Industry,

Beijing Gas Blue Sky Holdings Limited has announced that, Beijing Blue Sky Energy, an indirect wholly-owned subsidiary of the company, has entered into a three years LNG Supply Agreement with Kunlun Energy Shandong, a wholly-owned subsidiary of KunLun Energy Company Limited.

Pursuant to the LNG Supply Agreement, Kunlun Energy Shandong shall purchase LNG for approximately 10 trucks (20 t per truck) daily and for approximately 3000 trucks (equivalent to 60 000 t) of LNG annually. The actual amount of purchase of LNG will depend on the change of market conditions and daily purchase plan of Kunlun Energy Shandong.

According to the annual average price of the LNG of approximately RMB4250 per t, the Proposed Annual Caps for the period commencing from 9 May 2018 to 31 December 2018, the year ending 31 December 2019, the year ending 31 December 2020 and the period commencing from 1 January 2021 to 8 May 2021 are RMB 170 million, 225 million, 225 million and 85 million respectively.

Tommy Cheng, Co-Chairman, Chief Executive Officer and Executive Director of the Group commented: "The Agreement will strengthen our existing business in the sales of natural gas and increase our revenue. We are looking forward to further engaging in business cooperation with Kunlun Energy."

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