NEW YORK, Oct. 3, 2006 (PRIMEZONE) -- China Natural Gas, Inc. (OTCBB:CHNG) (www.naturalgaschina.com), the first China-based natural gas public company traded in the U.S. capital market, today announced that the company has initiated construction of four new company-owned retail natural gas filling stations in Henan province, China's most populous province. Construction of the four new stations is expected to be completed in two months. The company currently has 11 operating stations.
Chairman and CEO Qinan Ji said: "With a population of more than 100 million, Henan represents a significant opportunity for us to expand our business model into one of China's largest retail markets for alternative fuel. We look forward to launching additional stations in the near future."
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. Approximately 8.6% of the company's shares are owned by Bodisen Biotech, Inc. (AMEX:BBC).
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of China Natural Gas, Inc. management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.