Rochester, NY 8/19/2009 9:10:31 AM
China Natural Gas, Inc. CHNG, Provides latest Updates on Gas for Power Supply conformity for Future LNG Plant
China Natural Gas, Inc.
China Natural Gas, Inc. ("China Natural Gas" or the "Company") ( CHNG), a top provider of packed together natural gas (CNG) for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi’an, China, today broadcast the updates for the power supply agreement with Yulin Municipal Government and Shaanxi Provincial Government.
China Natural Gas has reached a power supply conformity with the municipal government of Yulin and Shaanxi Provincial Government. In this newest agreement, Yulin Electric Power Supply Bureau offers to invest RMB40 million (approximately US$5.9 million), which doubled the quantity of its beforehand promised funding, to construct an integrated 110KV transformer substation to guarantee the supply of electricity for the Company’s LNG plant. The obligation letter from Yulin Electric Power Supply Bureau states that because China Natural Gas’s LNG proposal are important at both provincial and municipal levels, the Bureau has made conclusion to add more investment in this built-out to guarantee to strengthen and competence of the electricity demand for this key project.
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