July 10, 2008

PNG Ventures Executes LNG Supply Contract With City of Phoenix

PNG Ventures, through its wholly owned subsidiary Applied LNG Technologies USA, has executed a liquefied natural gas supply contract with the City of Phoenix, Arizona.

Under the terms of the agreement, PNG Ventures will supply over 10 million gallons to Phoenix over the course of the next twelve months.

The city will use the liquefied natural gas (LNG) as a transportation fuel for its municipal transit buses. Phoenix is reportedly the single largest purchaser of transportation LNG in the US.

Debbie Cotton, director of the City of Phoenix Public Transit Department, said: "The City of Phoenix is proud to be a leader in the advancement of the use of LNG as a clean, affordable alternative solution to this nation's energy concerns. We are pleased to be working with Applied LNG Technologies USA (ALT) in offering clean, domestically produced LNG to our municipal fleet."