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Shares of gas companies in China rose with expectations of increased demand
Natural Gas storage tanks at night

Shares of natural gas companies in China recorded a new high, with expectations of an increase in demand for the services of these companies as a result of the government’s decision to ease restrictions imposed to contain the emerging Coronavirus, according to the zero-infection policy.

“The markets expect an improvement in economic activity in China, which means an increase in demand for energy in general,” Alex Shaw, investment manager at Infinity Asset Company, was quoted as saying by “Bloomberg.” He added, “The easing of Corona rules is a positive development for gas demand.”

The share price of EN Energy rose 11% on the Hong Kong Stock Exchange, which is the most significant increase in the share since last March 21. Suntain Green Energy shares rose 7%, China Resources Gas shares rose 6.9%, China Gas Holdings shares rose 7.2%, and Town Gas Smart Energy rose 8.3%.