HONG KONG--(BUSINESS WIRE)--Blue Sky Power Holdings Limited (or “the Company”, together with its subsidiaries, the “Group”, HKSE stock code: 6828) is pleased to announce that, Anhui Power Energy Company Limited (“Anhui Power Energy”), an indirect wholly-owned subsidiary of the Company, entered into a Master Agreement with Beijing Gas Lu Yuan Da Clean Fuel Company Limited (“Beijing Luyuanda”), an associate of Beijing Gas Company Limited (“Beijing Gas”). Beijing Gas is now a substantial shareholder of the Company. Anhui Power Energy conditionally agrees to sell and Beijing Luyuanda conditionally agrees to purchase LNG for a term of three years from 1 January 2017 to 31 December 2019. The Annual Caps for the Master Agreement for the years ending 31 December 2017, 2018 and 2019 is set out as RMB150 million, RMB165 million and RMB180 million respectively.

Anhui Power Energy is principally engaged in the sale of natural gas and other related products. Beijing Luyuanda is principally engaged in the operation of vehicle gas stations (oil and gas mixture) business and sale of LNG.

Mr. Tommy Cheng, Co-Chairman and Executive Director of the Group, said, “Beijing Gas has become our single largest shareholder since May 2016. The board proposed to change the name of the Company from ‘‘Blue Sky Power Holdings Limited’’ to ‘‘Beijing Gas Blue Sky Holdings Limited” in October 2016 in order to better reflect our relationship with Beijing Gas and our future development. The sale of LNG by Anhui Power Energy to Beijing Luyuanda will strengthen the existing business of the Group in the sales of natural gas and increase the revenue of the Group. The Company will continue to explore and identify more synergistic opportunities with Beijing Gas, in terms of co-investments and cooperation in both project and regional levels.”

Blue Sky Power Holdings Limited

Since 2014, Blue Sky Power Holdings Limited (HKSE stock code: 6828) 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. Our natural gas business encompasses: (i) construction and operation of compressed natural gas (“CNG”) and liquefied natural gas (“LNG”) refueling stations for vehicles; (ii) construction of natural gas pipelines and operation of city gas projects by providing piped gas; (iii) direct supply of LNG to end-users; and (iv) trading and distribution of CNG and LNG.

Blue Sky Power has adopted its own “One Belt, One Road Expansion Strategy” to expand along key coastal economic areas and north-western provinces that have rich gas source. The Group has business presence in several provinces in the PRC, including Liaoning, Shandong, Anhui, Zhejiang, Hubei, Sichuan and Hainan.

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