OREANDA-NEWS. May 18, 2011. Hong Kong-based investment holding company ENN Energy Holdings Ltd, which is engaged in the investment, operation and management of gas pipeline infrastructure and the sales and distribution of piped and bottled gas, plans to sell 5 billion cubic meters of natural gas this year, sources reported, citing Chairman Wang Yusuo, as saying.

In the first quarter of this year, the company's natural gas sales reached 1.6 billion cu m, compared with the 1 billion cu m recorded in the same period of last year.

In the period from January to April, natural gas sales prices were between RMB 2.30 and RMB 2.40 per cu m, the same as a year ago.

Wang said that the company will actively focus on sales in line with the Chinese government's 12th Five Year Plans and diversify its products.

ENN Energy's natural gas sales are expected to reach 15 billion cu m in 2015, said Wang, adding that the figure is expected to reach 30 billion cu m in 2020.

Wang noted that the company has the intention to spin off its solar business and list it in the U.S. or Hong Kong. The firm does not rule out the possibility to introduce strategic investors.