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Blue Sky Power proposes change to company name

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LNG Industry,

The Board of Blue Sky Power Holdings Ltd has announced that it is proposing to change the English name of the company to Beijing Gas Blue Sky Holdings Ltd.

Since 2014, the company has focused on transforming itself into an integrated natural gas provider, distributor and operator, with an emphasis on the mid to downstream side of the natural gas industry value chain. Its natural gas business encompasses construction and operation of CNG and LNG refuelling stations for vehicles, construction of natural gas pipelines and operation of city gas projects by providing piped gas, and the direct supply of LNG to end-users. The company is also involved in the trading and distribution of CNG and LNG.

Tommy Cheng, Co-Chairman and Executive Director of the Group, said: “Following the completion of subscription of shares and convertible bonds of the company by Beijing Gas Group Co. Ltd in May 2016, Beijing Gas has become our single largest shareholder. We believe that the proposed change of company name will better reflect the relationship between the company and Beijing Gas and our direction of future development. The new name of the company will create a new corporate image which will benefit the Group’s future business development.”

Zhi Xiaoye, Co-Chairman and Non- Executive Director of the Group, added: “With the industry and financial resources gained from Beijing Gas, our current single largest shareholder, we will continue to explore and identify more synergistic opportunities with them, in terms of co-investments and cooperation in both project and regional levels.”

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