The filling stations have all of the government permits they need to operate and are now selling natural gas for compressed natural gas (CNG) powered vehicles. The CNG filling stations bring the company’s total CNG filling stations in operation to 28.
Qinan Ji, CEO and chairman of China Natural Gas, said: We are so pleased to continue our station build out in 2008 as we further enhance our presence in the Shaanxi province. We believe there is significant opportunity to build out our filling network as more and more drivers and local governments seek the benefits of CNG, which is significantly more affordable and energy efficient than gasoline.
In fact, in Xi’an city alone, we estimate there are roughly 700,000 motor vehicles, of which only 8% are currently using CNG. We are working diligently to capitalize on this market opportunity.
