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ENN Energy

ENN Energy (ENN) is one of the largest gas distributors in China. Most of its revenues come from the sale of piped gas and gas connection fees. The company's main business is purchasing piped gas from the national gas supply grid and distributing it from the city-gate to end-customers. ENN typically only pays for the actual quantity purchased. However, ENN also enters into long term take-or-pay contracts with major upstream natural gas suppliers in China, including PetroChina, Sinopec, China National Offshore Oil Corporation (CNOOC) and their distributors. ENN had 172 gas projects in various provinces, municipalities and autonomous regions in China, as of 31 December 2017. ENN's projects cover a connectable urban population of over 84.7 million. After obtaining the concession right for a city or region in China, ENN usually has exclusive rights to supply gas in the area for 20-30 years. As at 31 December 2017, ENN also operated a total of 325 CNG refuelling stations and 281 LNG refuelling stations and promoted 266 alliance refuelling stations respectively. (19 Jul 2018)

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Asia Corporate Recommendations: December 2018

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ENN Energy: Meeting Notes-Regulatory Debate

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ENN Energy: Sister Company Bids for US LNG Project

Worth Watching: 08 Nov 2018, 4:48 AM ET - ENN Energy  's (ENN, Baa2/BBB+) sister company ENN Ecological may purchase the right to liquefy shale gas at the Freeport LNG Development project in Texas from Toshiba by the end of March 2019, according to news reports. ENN Ecological has not yet ..

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China Oil & Gas and ENN Energy: Connection Fee Cap

Worth Watching: 02 Oct 2018, 5:03 AM ET - China Oil & Gas and ENN Energy (COG Ba2/Stable, BB/Pos; ENN Baa2/Stable, BBB+/Stable).  China's National Development and Reform Commission (NDRC) has proposed a cap on gas distributors' connection fees, according to press reports. The fee cut co ..

Asia Corporate Recommendations: October 2018

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Asia Corporate Recommendations: September 2018

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ENN Energy 1H18: Solid Results for a Gas Company

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Asia Corporate Recommendations: August 2018

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ENN Energy: "Integrated Energy" Acquisition

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ENN Energy: Increase in Gas Price May Hurt Margins

Worth Watching: 30 May 2018, 6:08 AM ET - ENN Energy (ENN, Bond Ratings: BBB+/Baa2/BBB). China's National Development and Reform Commission (NDRC) announced last Friday that it would use the pricing mechanism for non-residential gas for residential gas, allowing prices of residential gas ..

Asia Credit Calendar: Week of 14 May 2018

Strategy Analysis: 11 May 2018, 12:41 AM ET - A handful of Japanese banks and Indian corporates will report their FY18 results next week. Chinese car rental firm CAR Inc, Chinese developer Yanlord, Tencent and Noble Group will also report their 1Q18 earnings on Tuesday and Wednesday.

Asian Corporates: Post-Results Report Cards

Earnings Note: 04 May 2018, 3:55 AM ET - We take stock of FY17 and 1Q18 results season and update our outlooks for 35 companies in FY18. 
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ENN Energy: S&P Upgrade to BBB+

Worth Watching: 03 May 2018, 10:30 AM ET - ENN Energy  (ENN, Bond Ratings: BBB+/Baa2/BBB) recently had its bond and corporate ratings upgraded from BBB to BBB+ by S&P. The outlook was also revised from Positive to Stable. According to S&P, the rating upgrade reflects its view of "ENN's sol ..
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Asia IG News: Xiaomi, ENN, Siam CB, DBS

Worth Watching: 30 Apr 2018, 5:43 AM ET - Asia IG News (Click the hyperlinks to see CreditSights research)Greater China:Chinese smartphone maker Xiaomi Corp. is preparing to raise $10 bn in a Hong Kong IPO. S&P upgrades ENN Energy to BBB+ from BBB to reflect their view of the company's so ..

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