Officials with China Natural Gas, Inc., a provider of compressed natural gas for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi'an, China, April 8 announced that the company has received local government approval from four cities in Hubei Province, China, to build liquefied natural gas (LNG) reserve stations, harbor LNG fueling stations and inland LNG fueling stations in the region. The cities within Hubei Province include Wuhan, Yichang, Xiangfan and Huangshi. The development marks the company's initial endeavors expanding into the natural gas market in Hubei Province.
The company said that according to approval documents, it is allowed to build 30 inland LNG fueling stations and four harbor LNG fueling stations in Wuhan, the capital city of Hubei province; in Yichang City, the company is allowed to build one LNG reserve station, two harbor LNG fueling stations and seven inland LNG fueling stations; in Xiangfan, it is allowed to build one LNG reserve station, one harbor LNG fueling station and four inland LNG fueling stations; and in Huangshi, the company can build one LNG reserve station, two harbor LNG fueling stations and six inland LNG fueling stations.
Hubei government officials commented that, “utilization of natural gas satisfies the long-term need of energy conservation and environmental protection. The positive impacts of the LNG utilization include optimizing urban energy structure, easing energy shortages, reducing cost of energy consumption and augmenting the natural gas coverage in addition to pipelines. LNG also has obvious economic and environmental advantages for transportation applications including buses, freight vehicles and ships.” – Theresa Ward
Recommended Reading
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-26 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
NOV Announces $1B Repurchase Program, Ups Dividend
2024-04-26 - NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Initiative Equity Partners Acquires Equity in Renewable Firm ArtIn Energy
2024-04-26 - Initiative Equity Partners is taking steps to accelerate deployment of renewable energy globally, including in North America.
Repsol to Drop Marcellus Rig in June
2024-04-26 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
Ithaca Deal ‘Ticks All the Boxes,’ Eni’s CFO Says
2024-04-26 - Eni’s deal to acquire Ithaca Energy marks a “strategic move to significantly strengthen its presence” on the U.K. Continental Shelf and “ticks all of the boxes” for the Italian energy company.