China Natural Gas Completes Construction of New CNG Filling Stations
29 Juni 2007 - 3:30PM
PR Newswire (US)
NEW YORK, June 29 /PRNewswire-FirstCall/ -- China Natural Gas, Inc.
(OTC:CHNG) (BULLETIN BOARD: CHNG) , one of the leading providers of
compressed natural gas (CNG) for vehicular fuel in Xi'an, China,
confirmed today that the Company will enter the third quarter of
2007 with 17 revenue producing CNG filling stations, as planned.
Two of these stations are located in the Henan province of China,
contributing to the Company's geographic expansion. "Today's
announcement demonstrates our conviction to execute our growth plan
and have 23 revenue producing CNG filling stations by the end of
2007," said Mr. Qinan Ji, Chairman and CEO of China Natural Gas.
"We also plan to increase our footprint in other regional markets
outside of Xi'an and today's announcement speaks to our success in
this effort as well." About China Natural Gas, Inc. China Natural
Gas, Inc. ("CHNG"), a Delaware company, is the first China- based
U.S. public natural gas services provider that owns and operates a
120- kilometer-long compressed natural gas pipeline in China's
Xi'An area, a fast- growing Chinese city supported by a population
of approximately 8 million, and is the "gateway' to the broad
Western regions of China. CHNG has three profitable business
segments: end user delivery of natural gas services to residential,
commercial and industrial customers; wholesale natural gas to
retail natural gas filling stations; and retail natural gas at
company-owned natural gas filling stations. The city of Xi'An has
approximately 20,000 taxis, 3,000 buses and 2,000 special purpose
vehicles that are powered by compressed natural gas. Safe Harbor
Statement Certain forward-looking statements made on this press
release are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on current management expectations that
involve risks and uncertainties that may result in such
expectations not being realized. Potential risks and uncertainties
include, but are not limited to the risks described in the company
filings with the Securities and Exchange Commission. DATASOURCE:
China Natural Gas, Inc. CONTACT: Ashley Ammon MacFarlane & Bill
Zima of Integrated Corporate Relations, +1-203-682-8200
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