Sourcing crude for China: China's demand for crude oil has been growing, with import dependence exceeding 60%. Leveraging the Group's advantages gained from years of experience in China, the Group's annual supply of crude oil is currently 60 to 70 million barrels, the Group is able to meet part of the domestic demand for crude oil. Meanwhile, its new storage facilities will propel the development of its international trading business. We entered the bonded warehouses with bonded system. As our storage facilities are linked to pipelines, Brightoil is able to supply oil to refineries directly. The Group has established an excellent team specializing in crude oil, which, coupled with its VLCCs in operation, will provide strong support to the development of the Group's crude oil supply business in China and to growth of its future crude oil supply.
Selectively entry to distillates: Our distillate trading focus will remain mainly on gasoil unless new competitive options emerge in mogas. This will largely be focused around Asia while exploring the European market.
Emerging opportunities in LNG: With the growing demand for environmental protection and the development of clean energy in China, demand for natural gas is set to grow, the gap between demand and supply is expected to widen, and demand for imported liquefied natural gas (LNG) is expected to rise. As such, we will further expand the Group's LNG business, capitalizing on our existing resources and network, to fulfil demand attributable to the adjustment in the national energy structure and growing energy consumption in China.