Gelonghui, March 12, 丨 China Gas (00384.HK) announced that on March 12, 2024, China City Gas (a wholly-owned subsidiary of the company), Summit Energy and Fortune Clean Energy entered into a 2024 joint venture agreement to establish a 2024 joint venture to acquire, own and lease two 2024 LNG carriers. The joint venture will not become a subsidiary of the company after its establishment in 2024, and its financial results will not be consolidated into the Group's financial statements.
According to the 2024 joint venture agreement, the lessee Zhongran Hongda Energy Trading Co., Ltd. (a wholly-owned subsidiary of the company) must lease two 2024 LNG carriers under a long-term lease agreement for a period of 20 years.