CNG DEVELOPMENTS IN CHINA
China Natural Gas, Inc. a provider of compressed natural gas (CNG) for vehicular fuel in Xi'an, China, has acquired two new CNG filling stations in Jiaozuo City, Henan Province and one compressor station in Xianyang City, Shaanxi Province, which has the daily processing capacity of 100,000 to 150,000 cubic meters of CNG.
The acquisitions will bring the number of the company's total CNG filling stations to 26 and the number of its compressor stations to two. Another Sinoenergy Corporation (Sinoenergy), a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment and a designer, developer and operator of CNG filling stations in the People's Republic of China, has signed a purchase agreement to acquire Giant Power International Limited (GPI) for $US8.75 million. The Company signed a separate purchase agreement to acquire Qingdao Shan Yang Tai Chemistry Resources Development Co., Ltd. (QSYT) for $US5.33 million.
The growth of the CNG industry in China is clearly linked to the increasing number of buses and taxis running on this type of fuel in China. More news about particularly buses with CNG engines, and about driveline components for CNG vehicles, should come available during the coming Busworld Asia Exposition in Shanghai.
