China Natural Gas Announces Completion of First LNG Fueling Station in Shaanxi Province
Natural Gas” or the “Company”) (Nasdaq: CHNG), a leading provider of
compressed natural gas (CNG) for vehicular fuel and pipeline natural gas for
industrial, commercial, and residential use in
that the Company has completed construction of a liquefied natural gas (LNG)
fueling station in
operations on
an LNG fueling station in
The new station, located in Hongqing District,
fueling station in
fueling capacity of approximately 50,000 cubic meters per day. This first
station will initially serve as a working model, which will be crucial to
showcase the market potential of LNG to future users. China Natural Gas is
also working with renowned truck manufacturers, which the Company believes
will accelerate the process of acceptance of LNG fuels into the marketplace.
CEO and Chairman Mr. Qinan Ji remarked, “We are very pleased to share this
exciting news. The opening of our first LNG fueling station is a major
milestone for our Company that underlines the growing recognition of LNG as a
viable clean-energy fuel source for vehicles. Compared to gasoline and diesel,
LNG is a more cost-efficient, environmentally friendly fuel source that can
provide significant cost-saving benefits to fueling station operators and
consumers. LNG-powered cars can save consumers more than 40% on fuel costs
compared to diesel cars. Furthermore, LNG fueling stations require relatively
small initial investments and shorter construction periods, and the cost of
converting a car to run on LNG is moderate.”
Mr. Ji continued, “The Chinese government plans to invest approximately
expect natural gas to be a key component of the national energy strategy. We
will continue to develop our business to capitalize upon new opportunities in
Energy research and consulting group Wood Mackenzie forecasts that LNG
consumption in
2020, up from an earlier estimate of 31 million metric tons. In the month of
June, total LNG purchases in
increase of 58% compared to the same period a year ago.
About China Natural Gas, Inc.
China Natural Gas transports and sells natural gas to vehicular fueling
terminals, as well as commercial, industrial and residential customers through
its distribution networks in
owns approximately 120 km of high-pressure pipelines and operates 28 CNG
fueling stations in
Province
distribution and sale of CNG through Company-owned CNG fueling stations for
hybrid (natural gas/gasoline) powered vehicles; (2) the installation,
distribution and sale of piped natural gas to residential, commercial and
industrial customers through Company-owned pipelines; (3) the distribution and
sale of gasoline through Company-owned CNG fueling stations for hybrid
(natural gas/gasoline) powered vehicles; and (4) the conversion of
gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles
through its auto conversion division.
Forward-Looking Statements
This press release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates” and similar statements.
For example, statements about the future plans and goals of the JV with CNPC
and its prospects are forward looking and subject to risks. China Natural Gas,
Inc. may also make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q and
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uncertainties that could cause actual results to differ materially from the
forward-looking statements. A number of important factors could cause actual
results to differ materially from those contained in any forward-looking
statement. Potential risks and uncertainties include, but are not limited to,
risks outlined in the Company’s filings with the U.S. Securities and Exchange
Commission, including its registration statements on Forms S-1 and S-3, in
each case as amended. The Company does not undertake any obligation to update
any forward-looking statement, except as required under applicable law.
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made in
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For more information, please contact:
China Natural Gas Inc.
Jackie Shi
IR Director
Tel: +86-29-8832-3325 x922
Cell: +86-139-9287-9998
Email: yjshi@naturalgaschina.com
Investor Relations:
Alexander Nachman
RedChip Companies, Inc.
Tel: +1-800-733-2447 x118
Email: alex@redchip.com
Web: http://www.RedChip.com
SOURCE China Natural Gas, Inc.