Sino Gas & Energy Holdings Limited
(ASX:SEH) has welcomed news China will be aiming to double its natural gas consumption by 2020.
The news came as the National Energy Administration released its 13th Five Year Energy Plan, as it looks to promote cleaner energy in China.
In 2015 natural gas made up less than 6 percent of China’s energy mix, with a target of 10% now proposed for 2020.
Sino Gas Managing Director Glenn Corrie has indicated the company is well positioned with its large, low cost, low risk gas resource in the Ordos basin to contribute China’s clean energy objectives.
Sino Gas & Energy Holdings Limited reported a net loss of $4.4 million dollars at 30 June 2016.
