On Dec.12, 2013, Tian Lun Gas and Dongming Wanji Gas Limited entered into Equity Transfer Agreement, acquired 80% equity interests of Wanji Gas, in which obtained 30 years pipeline gas exclusive operation rights in Dongming County and industrial parks within its administrative area.
Economic aggregate of Dongming County is among the top of Heze City, urban population is growing faster, which has a bigger space for future residential, industrial and commericial users. Dongming is located in the Zhongyuan oilfield hinterland that could enjoy preferential price in oil region.low-proce gas will have profitability.
The successful acquisition of Wanji Gas project is one of the strategic layout in Shangdong Province of the Group, which will further expand the Group’s market share of natural gas in Shangdong Province.