According to the local government approval document, the joint venture, Henan CNPC Kunlun Xilan Compressed Natural Gas will build one CNG compressor station and two fueling stations in Ye County, Pingdingshan City, two fueling stations in Baofeng County, Pingdingshan City, and two fueling stations in Wugang County, Pingdingshan City.
The development marks the formal launch of the joint venture between China Natural Gas and CNPC in this region.
Qinan Ji, chairman and CEO of China Natural Gas, said: “We are very pleased to make this announcement that our joint venture with CNPC is progressing well and has received construction permit of one CNG compressor and six fueling stations in Pingdingshan City in Henan Province.
“CNPC Kunlun has broad market coverage and strong gas supply channels. By leveraging the existing pipeline and supply networks of our business partner, CNPC, we will be able to fully utilize our competitive advantages in strategic management, marketing development and business operations to further expand our market and ultimately generate better returns for our investors.”
