Gas partners with Sinopec to layout hydrogen energy and green fuels, prioritizing the use of "Made in Hong Kong" green hydrogen

China Gas (003) stated that it has signed a memorandum of cooperation with Sinopec Hong Kong and Sinopec (386) subsidiary Star Petroleum to establish a strategic partnership among the three parties, focusing on clean energy such as hydrogen energy, green methanol, and sustainable aviation fuel (SAF), to promote the implementation of the national "dual carbon" strategy and Hong Kong's energy transition. Research and Establish Joint Venture to Improve Hong Kong's Hydrogen Facilities According to the memorandum of cooperation, the collaboration among the three parties will cover key areas such as the promotion of hydrogen energy business, construction of hydrogen refueling stations, liquid hydrogen storage and transportation technology, hydrogen charging stations, green methanol shipping applications, and the development of sustainable aviation fuel. The three parties will also explore the establishment of a joint venture aimed at integrating resource advantages, accelerating the implementation of hydrogen energy projects, improving hydrogen-related infrastructure in Hong Kong, and building a competitive industrial ecosystem; in the future, this opportunity will also deepen practical cooperation in the fields of hydrogen energy and green fuels. China Gas indicated that this cooperation will actively consider prioritizing the use of locally produced hydrogen at market-competitive prices to enrich the diversity of hydrogen sources. The group stated that China Gas has an annual hydrogen production capacity of over 12,000 tons, and with its facilities for converting biogas to hydrogen at the Tseung Kwan O landfill, it further supplements the supply of "Made in Hong Kong" green hydrogen. China Gas further stated that Sinopec Hong Kong has a leading retail network and a large customer base in the region, and operates the first public hydrogen refueling station in Hong Kong to carry out hydrogen refueling business; while Star Petroleum, as Sinopec's new energy professional company, focuses on wind and solar power generation, green electricity transmission, green hydrogen production, storage and transportation, and applications. This cooperation will leverage each party's strengths to jointly expand the downstream market for hydrogen energy and accelerate its widespread application in Hong Kong. China Gas's Wong Wai-yi: Hopes to Promote Green Transportation and Hydrogen Power Generation at Construction Sites Wong Wai-yi, Executive Director of China Gas, stated that the group has an underground gas pipeline network covering the entire Hong Kong, with a total length of 3,700 kilometers. "Obtaining local hydrogen sources is 'as easy as hydrogen'," and he hopes this cooperation will promote the development of the hydrogen economy, particularly in practical applications such as green transportation and hydrogen power generation at construction sites. Sinopec Hong Kong: Promoting the Construction of Hydrogen Refueling Stations and the Implementation of Green Fuel Projects Wu Qinggao, General Manager of Sinopec Hong Kong, stated that this cooperation complements the advantages of the three parties and aligns their goals, leveraging their respective strengths in resources, technology, and market to jointly promote the construction of hydrogen refueling stations, the promotion of hydrogen vehicles, the application of green methanol ships, and the supply of sustainable aviation fuel to expedite the implementation of key projects. Zhang Mingming, Chief Financial Officer, Chief Legal Counsel, and Chief Compliance Officer of Star Petroleum, stated that the company has built and put into operation the world's largest green electricity to green hydrogen project, which has been operating safely and steadily for over two years. Under the future cooperation framework, it will rely on its core technology and resource advantages to focus on key areas such as liquid hydrogen transoceanic transportation, blending hydrogen into city gas, and green hydrogen power generation, assisting Hong Kong's hydrogen industry in its transformation and upgrading towards greening, low-carbonization, and diversification