Press Releases

Operations Update

24 Jul 2015

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Greka Engineering & Technology Ltd. (AIM:GEL), the unconventional gas sector engineering and technology business with pipeline, gas compression and power generation assets in China, announces the following operations update for the first half of 2015.
 
Gas Compression  
 
  • Gas processed in H1 2015 was 661,244 thousand cubic feet (18.7 million cubic metres), a 21% increase over H1 2014 (548,137 million cubic feet/15.5million cubic metres), of which:
  • Sales volume was 577,656 thousand cubic feet (16.4 million cubic metres), a 21% increase over H1 2014 (477,720 thousand cubic feet /13.5 million cubic metres)
  • Self-consumption volume was 83,588 thousand cubic feet (2.4 million cubic metres)
  • No lost time due to injury or accident in H1 2015
 
Power Generation
 
  • Electricity generated in H1 2015 was 8,676,154kwh (H1 2014: 7,067,193 kwh), of which:
  • Power sales volume was 7,080,091 kwh, a 29% increase over H1 2014 (5,486,457 kwh)
  • 1,596,063 kwh was consumed for operations in H1 2015
  •  No lost time due to injury or accident in H1 2015
 
Infrastructure
 
  • 9.952km of gas gathering pipeline was constructed in H1 2015
  • 51.9km of well gas gathering pipeline at end of H1 2015 (2014: 41.9km)
  • 7.754km of power lines built in H1 2015 (H1 2014: 2.5km)
  • 79.6km of power lines at the end of H1 of 2015 (2014: 71.8km)
  • No lost time due to injury or accident in H1 2015
 
Manufacturing
 
  • Sales of 31 gas station refuelling equipment items in H1 2015(H1 2014: 64)
  • Addition of 6 new customers during H1 2015
  • A total of 156 customers in China at the end of H1 2015
  • No lost time due to injury or accident in H1 2015
 
 
 
 
Randeep S. Grewal, Executive Chairman of Greka Engineering, commented:
 
"In accordance with expectations, the business continues its consistent and stable expansion in all infrastructure projects as well as the increase in utilization of the installed pipelines, compression and powerplant. We continue to be focused on creating a ‘one-stop-shop’ to the many entrants into the sector.”
 
 
For more information of Greka Engineering, please visit the Company’s website at: www.grekaengineering.com.
 
Contacts:
 
 
 
Smith & Williamson
Nominated Adviser
Dr Azhic Basirov / David Jones / Ben Jeynes
+44 20 7131 4000
RFC Ambrian
Broker
Charlie Cryer
+44 20 3440 6800
WH Ireland
Broker
Tim Feather
+44 113 394 6600
Walbrook
Media & Investor Relations
Paul McManus / Guy McDougall
+ 44 20 7933 8780
get@walbrookpr.com
 
About Greka Engineering & Technology
 
Greka Engineering & Technology Ltd., (AIM; GEL) was demerged from Green Dragon Gas Ltd. (AIM; GDG) via a dividend in specie and was admitted to trading on AIM in September 2013.
 
Greka Engineering offers turnkey solutions to over 100 upstream, midstream and downstream gas suppliers. The Company's technologies include Compressed Natural Gas/Liquefied Natural Gas (CNG/LNG) compressor equipment, CNG retail dispenser equipment and CBM wellhead extraction technologies. The Company also supplies proprietary Integrated Circuit Card Point of Sale (ICC POS) and Supervisory Control and Data Acquisition (SCADA) software and hardware solutions for the remote management of transmission systems, power facilities, vehicle management and retail services.
 
In addition, the Company invests in, operates and maintains wholly owned assets for its customers in return for service contracts based on the volume management.
 
The Company has historically completed several Engineering, Procurement, Construction and Management (EPCM) contracts including the design, construction and management of gas gathering systems, a gas pipeline in Shanxi Province to the China West-East pipeline, the installation and commissioning of a 10MW gas-fired power facility in the Shanxi province and the construction of CNG retail stations.