NEW YORK, Nov. 30, 2006 (PRIME NEWSWIRE) -- China Natural Gas, Inc. (OTCBB:CHNG) (http://www.naturalgaschina.com), a leader in China's natural gas industry engaging in the transmission and distribution of natural gas to a diverse base of commercial, industrial, wholesale and residential customers, has started construction of four new retail natural gas filling stations located in the most populous province of Henan. The Company now has a total of 21 natural gas filling stations with eight in Henan province including the four under construction.
Mr. Qinan Ji, Chairman and CEO of China Natural Gas commented, "We are pleased to realize our aim of owning 21 natural gas filling stations before the end of this year. Demand for clean energy such as compressed natural gas continues to grow and demand in the marketplace is strong. China Natural Gas will experience a great revenue and earnings growth for the year of 2007."
About China Natural Gas, Inc.
China Natural Gas, Inc. ("CHNG"), a Delaware company, is the first China-based U.S. public natural gas services provider that owns and operates a 120-kilometer-long compressed natural gas pipeline in China's Xi'An area, a fast-growing Chinese city supported by a population of approximately 8 million, and is the "gateway" to the broad Western regions of China. CHNG has three profitable business segments: end user delivery of natural gas services to residential, commercial and industrial customers; wholesale natural gas to retail natural gas filling stations; and retail natural gas at company-owned natural gas filling stations. The city of Xi'An has approximately 20,000 taxis, 3,000 buses and 2,000 special purpose vehicles that are powered by compressed natural gas.
Safe Harbor Statement
Certain forward-looking statements made on this press release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to the risks described in the company filings with the Securities and Exchange Commission.