Green Dragon sets sights on higher gas output in China

 Green Dragon Gas Ltd, a London-listed and Hong Kong-headquarted independent gas producer, had a total natural gas output of 8.2 billion cubic feet in China last year and has set a target of reaching 12 billion cu f this year, the company announced on Tuesday.

Randeep Grewal, chairman and founder of the company, said Chinese government policies toward gas utilization objectives and prices had been unaffected by the drastic fall in crude oil prices, which was helpful for the company to realize the stability of its gas prices.

"Green Dragon Gas will continue to deliver value to its shareholders through this turbulent global commodity price environment," he said.

The company plans to start a series of infrastructure construction including pipelines building, cooperating with CNOOC Ltd and China United Coalbed Methane Co Ltd.