NEW YORK, Dec. 14, 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 two retail natural gas filling stations located in the most populous province of Henan. Originally the Company aimed to have a total of 21 stations by year-end however they have already exceeded this goal with the construction of the two new stations in Henan. The Company now owns a total of 23 natural gas filling stations with ten in Henan province including the six under construction.
Mr. Qinan Ji, Chairman and CEO of China Natural Gas commented, "We are pleased to exceed our target of owning 21 natural gas filling stations prior to year-end. The demand for clean energy such as compressed natural gas continues to grow and demand in the marketplace continues to be strong. With a population of more than 100 million, Henan represents a significant market opportunity and China Natural Gas should experience increasing revenue and earnings growth during 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.