16th Jan 2014 12:47
LONDON (Alliance News) - Green Dragon Gas Ltd Tuesday said it has agreed revised gas processing and electricity prices with Greka Engineering & Technology Ltd.
The coal-bed methane producer in China said prices of both compressed natural gas and piped natural gas processing are USD1.625 per million cubic feet for the first 3,530 million cubic feet of gas processed per day.
The company said this price reduces on a sliding scale to USD0.14 per million cubic feet for volumes above 17,700 million cubic feet per day.
Green Dragon said its electricity price increased to USD0.197 per kilowatt hour for the first 30,000 kilowatt hour consumed per day, also reducing on a sliding scale to USD0.008 per kilowatt hour for volumes above 150,000 kilowatt hour.
Previously, the prices charged by Green Dragon for piped natural gas and compressed natural gas processing were USD0.37 per million cubic feet and USD0.84 per million cubic feet respectively, and the electricity price was USD0.105 per kilowatt-hour.
Green Dragon said in the third quarter, Greka processed average daily volumes of 1,864 million cubic feet of piped natural gas and 1,070 million cubic feet of compressed natural gas, supplying Green Dragon with an average 20,759 kilowatt-hours per day of energy.
The company said the gas processing and electricity prices came into effect from January 1.
Green Dragon shares were up 3.7% to 280.00 pence Thursday. Greka shares were up 20% at 6.62 pence.
By Tom McIvor; [email protected]; @TomMcIvor1
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