State encroachment shows rising city gas risk in China
3 October 2016
Storage tanks belonging to China Gas. The firm’s Hangzhou subsidiary is under pressure. (China Gas)
State-backed firms in China’s eastern coastal city of Hangzhou are trying to muscle in on the local business of China Gas Holdings, in a case that highlights how city gas distribution is becoming an increasingly risky business for independents.
Hong Kong-listed China Gas, one of the country’s biggest city gas suppliers, is struggling to defend a franchise in Hangzhou, host of the recent G20 Summit. The local subsidiary of China Gas has held the franchise for Hangzhou’s district of Xiaoshan for the past six years, a source at the subsidiary told Interfax Natural Gas Daily.
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