China Natural Gas, Inc. (CHNGQ)

[BSWB]

China Natural Gas Announces Successful Completion of Single Machine Test Run and Ignition Ceremony of Its Jingbian Liquefied Nat
Date : 07/01/2010 @ 9:43AM
Source : PR Newswire
Stock : China Natural Gas (MM) (CHNG)
Quote : 7.924 -0.056 (-0.70%) @ 9:39AM


China Natural Gas Announces Successful Completion of Single Machine Test Run and Ignition Ceremony of Its Jingbian Liquefied Nat
China Natural Gas (MM) (NASDAQ:CHNG)
Intraday Stock Chart
Today : Friday 2 July 2010
China Natural Gas, Inc. ("China Natural Gas" or the "Company") (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, announced today that it successfully completed the single-machine test run and ignition ceremony of its Jingbian liquefied natural gas (LNG) plant on June 30, 2010.

Mr. Qinan Ji, Chairman and CEO of China Natural Gas, commented, "It is with extraordinary pride that we happily announce the completion of the single-machine test run and ignition ceremony of the Company's Jingbian liquefied natural gas plant. As a county, city and provincial-level key project, the plant endured once-in-a-century snowstorm, the May 12 earthquake, 2008 financial crisis and lasted 1,015 days to complete the single machine test run and ignition. I am truly grateful and delighted to share this achievement with all our investors."

The Company recognized the accomplishment with an ignition ceremony at the plant, which marks a major milestone in the Company's history and will soon activate an important asset in the future results of the Company's business plan. The plant is the only LNG plant in Shaanxi Province and one of the largest LNG plants in China. The Company anticipates that the LNG plant will make a significant contribution to its business model by the end of the fiscal year 2010.

With the successful completion of the LNG plant single-machine test run and ignition, the Company is about to build its own LNG fueling stations, which will further the Company's strategic vision of an integrated LNG operation that covers production, distribution and marketing. The Company believes this strategy will place it in a highly advantageous position going forward in the competitive natural gas marketplace.

About China Natural Gas, Inc.:

China Natural Gas 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 25 CNG fueling 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: [phone] x922
Cell: [phone]
Email: [e-mail]

Investor Relations:

RedChip Companies, Inc.
Alexander Nachman
Tel: [phone] x118
Email: [e-mail]
Web: www.RedChip.com

SOURCE China Natural Gas, Inc.