NEW YORK, Oct. 24, 2006 (PRIMEZONE) -- 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 providing natural gas to 8000 new residents in the city of Xi'An. The Company also started construction of two new retail natural gas filling stations located in the city of Xi'An. The Company has a total of 17 natural gas filling stations including the two under construction.
Mr. Qinan Ji, Chairman and CEO of China Natural Gas commented, "We are pleased to offer natural gas services to new residential customers. We are on track to achieving our target of owning 21 natural gas stations before the end of this year. We are in advanced discussions with several acquisition targets. As a natural gas services provider, our customers continue to see the use of natural gas as a more cost-effective and environmentally friendly fuel and energy alternative."
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.