XI'AN, China, April 27 /PRNewswire-Asia/ -- China Natural Gas, Inc. (Nasdaq: CHNG), a leading provider of compressed natural gas (CNG) for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi'an, China, today announced that its wholly owned subsidiary, Hubei Xilan Natural Gas Co., presented at a conference sponsored by the China Classification Society (CCS), the "River LNG Vessel Modification Conference," and received high praise from the supervising authorities for its vessel modification initiatives.
The CCS used Hubei Xilan Bi-fuel Ferry Tug Project as the demonstration project in order to promote the use of LNG ships in riverways. CCS will also coordinate the experiment and application of related engine technologies on the premise of security.
Mr. Qinan Ji, Chairman and CEO of China Natural Gas, Inc. commented: "Since 2006, the Company has introduced advanced technology in Hubei to convert the river vessels for LNG use. The conversion experiment is nearly completed, and the LNG vessel is expected to be test run by the second quarter of this year. We also pay great attention to security and pollution mitigation when adopting a new technology. The Yangtze River runs approximately 2,300 kilometers from Chongqing to Shanghai. The Yangtze River, known as the 'Golden Waterway,' averages 130,000 to 150,000 in ship traffic daily. Using LNG on river vessels is in line with significant national energy conservation policies and desired social benefit, which should lead to high degree of attention and support as a demonstration project. CCS' classification will be based on scientific, reliable and practical approaches to inspect and certify our Company's bi-fuel mixture combustion engine and gas tank equipment. After passing inspection, the Company's bi-fuel river vessel will be test run in the Yangtze River, a breakthrough in the natural gas industry and environmental conservation."
About China Classification Society
Founded in 1956, China Classification Society (CCS) is the only specialized organization of China to provide classification services. CCS is one of the ten full members of the International Association of Classification Societies (IACS). Its highest class notation has been included in the Classification Clauses of the Institute of London Underwriters (ILU). CCS is also the associate members to the International Association of Dry Cargo Ship owners (INTERCARGO) and the International Association of Independent Tankers Owners (INTERTANKO).
About China Natural Gas, Inc.
China Natural Gas ( http://www.naturalgaschina.com ) transports and sells natural gas to vehicular fueling terminals, as well as commercial, industrial and residential customers through its distribution networks in China's Shaanxi and Henan Provinces. The Company owns approximately 120 km of high-pressure pipelines and operates 24 CNG fuelling stations in Shaanxi Province and 12 CNG fueling stations in Henan Province. China Natural Gas' four primary business lines include: (1) the distribution and sale of CNG through Company-owned CNG fueling stations for hybrid (natural gas/gasoline) powered vehicles; (2) the installation, distribution and sale of piped natural gas to residential, commercial and industrial customers through Company-owned pipelines; (3) the distribution and sale of gasoline through Company-owned CNG fueling stations for hybrid (natural gas/gasoline) powered vehicles; and (4) the conversion of gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles through its auto conversion division.
SAFE HARBOR: FORWARD-LOOKING STATEMENTS
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. For example, statements about the future plans and goals of the JV with CNPC and its prospects are forward looking and subject to risks. China Natural Gas, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q and 8-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to fourth parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission, including its registration statements on Forms S-1 and S-3, in each case as amended. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.
For more information, please contact:
China Natural Gas Inc.
Jacky Shi
IR Director
Tel: +86-29-8832-3325 x922
Cell: +86-139-9287-9998
Email: yjshi@naturalgaschina.com
Investor Relations:
RedChip Companies, Inc.
Alex Nachman
Tel: +1-800-733-2447 x118
Email: alex@redchip.com
Web: http://www.RedChip.com
