China New Energy Mining Limited (CNEML) is our Joint Venture partner and holds 51% of Sino Gas & Energy Limited, with Sino Gas & Energy Holding (SEH) holding the remaining 49%. CNEML is a private company incorporated in Hong Kong and acquired its interest in SGE in July 2016 for US$220 million.
PetroChina CBM holds a 51% interest in the Sanjiaobei PSC. PetroChina CBM is a subsidiary of China National Petroleum Company (CNPC), China’s largest natural gas producer with extensive international experience and strong focus on development of unconventional gas in China.
1CBM Energy has an option to acquire 5.25% of Linxing PSC by contributing 7.5% of back costs.