Hong Kong & China Gas
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Hong Kong & China Gas

Hong Kong & China Gas
Hong Kong & China Gas
Founded in 1862, Hong Kong and China Gas Co (Towngas) is a utility that distributes gas and sells related appliances. Towngas mainly serves the needs of domestic, commercial and industrial customers for cooking, heating water and other purposes. The company also has operations in China.
The first large-scale ship-to-ship simultaneous refuelling for green methanol-powered container ships in China takes place at the Guandong Container Terminal on July 9, 2024. Photo: Linkedin/Quin Xu
Business of climate change

Hong Kong has potential to become green marine fuel hub with Beijing’s backing

City can have a bigger say in green fuel trading and pricing if it becomes a trading hub, CIMC Enric president Leo Yang says.

Hong Kong economy

‘Major consensus’ needed for proposed Hong Kong ‘Darling Harbour’ project

Hong Kong economy

Hong Kong gas usage stays below pre-pandemic level for sixth straight year

Semiconductors

Hong Kong investment arm backs Chinese RISC-V start-up StarFive

The partnership will see Hong Kong support StarFive in rolling out RISC-V chip applications in the city.

Full Vision Capital managing partner Alan Chan, left, and StarFive CEO Thomas Xu, holding a RISC-V chip. Photo: Jonathan Wong
Banking & finance

Towngas says tourism rebound, incoming mainland talent will drive sales in 2025

Towngas says its renewable energy business on the mainland was a strong profit contributor.

Banking & finance

Towngas unit’s 2024 profit gains as renewable energy bets pay off

Net profit rose 2 per cent to HK$1.6 billion (US$206 million), while revenue increased 7.4 per cent to HK$21.3 billion.

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Renewable energy

China needs new clean-energy tech investments after wind and solar boom

Greater capital is required in areas such as energy storage, hydrogen and sustainable aviation fuel.

China is already investing heavily in energy storage, but needs to adopt market-based principles to create more incentives for investors. Photo: Shutterstock
Family offices

Hong Kong tycoon Peter Lee looks for good karma in green investments

The Towngas chairman and devout Buddhist hopes to create a more sustainable future through his family office investments.

Business of climate change

Towngas, French energy group to launch Hong Kong’s first green hydrogen project

The Hong Kong and China Gas Company (Towngas) has teamed up with the French water, waste and energy group Veolia to launch the city’s first green hydrogen project, which will convert biogas from a landfill site into a sustainable fuel.

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Hong Kong economy

Hongkongers face higher gas bills as Towngas discusses fee hike with government

The increase in tariffs ‘will be reasonable, and it will not be a double-digit increase’, managing director Peter Wong says. Towngas last raised its basic tariff by 4.4 per cent in August 2022.

A Towngas logo is seen at the Hong Kong Brands and Products Expo in December 2023. Photo: Edmond So
Business of climate change

Hong Kong consumers could see higher gas tariffs as rising costs hit Towngas

Towngas, which last raised its basic tariff by 4.4 per cent in August 2022, is under pressure to lift gas tariffs this year ‘as we need to invest further in our network infrastructure’, managing director Peter Wong says.

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Piped-gas provider Towngas’ sales in Hong Kong fell 1 per cent last year because of above-average temperatures and reduced use. Photo: Handout
Old Hong Kong

Then & Now | 100 years of gas street lamps in Hong Kong, and the relics that live on

Relics of a bygone era, gas lamps can still be found in Hong Kong today – as long as one knows where to look.

Hong Kong

Editorial | At last, Hong Kong may be ready to join the wind revolution

But city’s power companies will have to meet environmental and ecological concerns as well as the engineering challenges.

Energy

Towngas slumps 15 per cent after earnings miss, suspension of bonus shares

Towngas shares dropped by as much as 15 per cent after it posted worse-than-expected annual results and suspended long-standing practice of issuing bonus shares.

The Tai Po plant of Towngas. The piped-gas distributor disappointed investors with its earnings for 2021. Photo: Martin Chan
Business of climate change

Towngas China raises HK$2.8 billion to accelerate clean energy transition

The mainland division of Hong Kong and China Gas (Towngas) also plans to change its name to Towngas Smart Energy to reflect the group’s ‘future development direction’.

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Towngas China said it will begin offering carbon auditing, asset management and trading capabilities to its customers. Photo: SCMP Handout
Business of climate change

Towngas, CATL eye growing demand for energy storage systems in China

Towngas and CATL plan to set up a joint venture to install energy storage systems in 10 industrial parks initially and also invest in energy-related projects.

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Greater Bay Area

Exclusive | Towngas eyes waste-to-energy projects as part of China’s green push

Towngas plans to expand its presence in the Greater Bay Area’s water supply, waste water treatment, municipal waste processing and waste-to-energy businesses.

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Hong Kong economy

Towngas customers to pay extra HK$10 per month after tariffs rise

Increase of 4.4 per cent to affect 1.9 million users when it comes in on August 1, with company citing higher labour and operating costs as reasons for rise.

Towngas said increase was equivalent to accumulative inflation rate between May 2017 and April this year. Photo: Handout
China pollution

China scrambles to convert northern rural homes to gas to combat choking smog

China Gas, a major natural gas distributor, says it has lined up contracts to ensure it can heat a growing number of rural homes – but some analysts are sceptical as another winter approaches

The Insider

The Insider | These five companies bought back their own shares in recent weeks

Energy

China Gas hit hard by yuan depreciation, lower prices, asset writedowns

China Gas is involved in the distribution of city gas and natural gas, and the construction of long-distance natural-gas pipelines.

New | Towngas pins growth hopes on China’s push for increased gas use

<p>Gas firm misses forecasts with 2.7 per cent rise in 2015 net profit</p>
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