Top 10 fastest-growing energy companies in the APAC region

Business Chief has looked at the top 10 fastest-growing energy companies in APAC
Business Chief takes a look at the top 10 fastest-growing energy companies in the APAC region, according to rankings from S&P Global Commodity Insights

The face of energy is changing, perhaps more rapidly than any other of the world’s major industries. 

While oil and gas firms might be unsure of their futures, those specialising in renewables are expected to continue growing. 

Here, Business Chief takes a look at the top 10 fastest-growing energy companies in the APAC region, according to S&P Global Commodity Insights. They are ranked by their compound growth rate (CGR) over a three-year period.

1. ENN Natural Gas Co, Ltd

Industry: Gas utilities

CGR: 104.2%

ENN Natural Gas was founded in 1992 as ENN Ecological Holdings and has become one of the largest private energy companies in China.

The firm operates more than 250 city gas projects across the country and runs the first large-scale private liquefied natural gas (LNG) terminal in China, based in Zhoushan.

Business extends across the entire natural gas value chain, including distribution, trading, storage and transportation, production and engineering. 

In 2021, ENN’s total natural gas sales volume was 37.2 billion cubic metres (bcm) accounting for approximately 10% of China’s total natural gas consumption.

2. Shaanxi Coal Industry Co Ltd

Industry: Coal and consumable fuels

CGR: 38.6%

In collaboration with its subsidiary companies, Shaanxi Coal Industry mines, produces, washes, processes and sells coal, both in China and across the globe. 

Many of the fastest-growing energy companies in APAC are involved in coal mining

It is itself an offshoot of Shaanxi Coal and Chemical Industry Group and employs more than 35,000 people.

Shaanxi ranks 11th globally in terms of the fastest-growing energy companies, with a CGR of 38.6%, and is 32nd out of 250 in S&P’s Global Energy Company Rankings. 

3. China Merchants Energy Shipping Co, Ltd

Industry: Oil and gas storage and transportation

CGR: 30.7%

China Merchants Energy Shipping was established in 2004, inheriting the rich history of China’s shipping business.

Its stock code on the A-share (601872) pays tribute to the founding year of China Merchants Steam Navigation Company, 1872, in a bid to imply a fresh starting point for the industry. 

As of the end of 2022, the shipping business of China Merchants had a total capacity of 306 ships, with a total deadweight tonnage of 43.48 million.

4. China Coal Energy Co Ltd

Industry: Coal and Consumable Fuels

CGR: 30.4%

Another entry for the coal industry, China Coal Energy was successfully listed on the Hong Kong Stock Exchange in 2006 and finalised its A-share issue two years later. 

The firm, based in Beijing, is primarily involved in the mining and processing of coal products. 

China Coal Energy bills itself as being “committed to building a clean energy supplier with strong international competitiveness”, with a desire to become a “leader of safe and green production”. 

5. Oil India Ltd

Industry: Oil and gas exploration and production

CGR: 29.6%

The second-largest national oil and gas company in India, Oil India Limited (OIL) is a state-owned enterprise of the Government of India, falling under the administrative control of the Ministry of Petroleum and Natural Gas.

OIL is concerned in the exploration, development and production of crude oil and natural gas, both in India and internationally. 

The firm, headquartered in Dibrugarh, can trace its roots back to 1889, the year oil production first started in India. 

The Three Gorges Dam in China. Picture: Getty Images

6. China Three Gorges Renewables (Group) Co,Ltd

Industry: Renewable eclectricity

CGR: 28%

The highest-ranking renewable energy company on the list, China Three Gorges Renewables is involved in wind, solar and hydropower energy generation. 

The company takes its name from the Three Gorges Dam project, having taken charge of its construction throughout the late-1990s and early-2000s. It became the world's largest hydroelectric power plant and started operating in 2008. 

According to S&P Global Commodity Insights, the firm has achieved a CGR of 28% over the past three years. 

7. Guanghui Energy Co, Ltd

Industry: Integrated oil and gas

CGR: 24.4%

Headquartered in Urumqi, China, Guanghui Energy was originally founded in 1994 as Xinjiang Guanghui Industrial Co. 

Main focuses include the mining and distribution of coal, the trading of crude oil and the exploitation, transportation and marketing of natural gas. 

Guanghui Energy ranks 24th globally in terms of the fastest-growing energy companies, with a CGR of 24.4%, and is 161st out of 250 in S&P’s Global Energy Company Rankings. 

8. Hubei Energy Group Co, Ltd

Industry: Independent power producers and energy traders

CGR: 22.5% 

Hubei Energy Group is based in Wuhan, the sprawling capital of China’s Hubei province.

In the main, the firm engages in power generation across hydro, thermal, nuclear, wind, and photovoltaics, and is also involved in the distribution of natural gas and coal. 

Latest available data shows Hubei Energy Group had more than US$10.9 billion in assets and took US$3.4bn in revenue.

More and more energy companies across APAC are concerned in utilising solar power

9. Shenzhen Energy Group Co, Ltd

Industry: Independent Power Producers and Energy Traders

CGR: 19.3%

Founded in 1991, Shenzhen Energy Group is one of the main power generation companies in its region, in southern China. 

Its specialism is in the production and distribution of electricity and natural gas. 

While developing all different types of energy, the company is also highly involved in research into and investment in innovative energy-related technologies. 

The firm’s most recently recorded profit was US$226m. 

10. Shanxi Lu'an Environmental Energy Development Co, Ltd

Industry: Coal and Consumable Fuels

CGR: 19.2%

Shanxi Lu'an Environmental Energy is listed on the Shanghai Stock Exchange and headquartered in Xiangyuan County.

The company has four production mines across China and most recently had revenue of US$6.7bn. 

Shanxi Lu'an Environmental Energy ranks 38th globally in terms of the fastest-growing energy companies, with a CGR of 24.4%, and is 108th out of 250 in S&P’s Global Energy Company Rankings.


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