China Natural Gas Inc. (CHNGQ)
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China Natural Gas Inc. Profile
| Gas Utilities Industry | Utilities Sector | Shu Wen Kang CEO | OTC PINK Exchange | 168910206 CUSIP |
| CN Country | 1,056 Employees | - Last Dividend | 13 May 2009 Last Split | - IPO Date |
Overview
China Natural Gas, Inc. was an integrated natural gas operator in the People's Republic of China, focusing on the sale and distribution of natural gas and gasoline to a varied customer base that included commercial, industrial, and residential sectors. The company was primarily engaged in the distribution of compressed natural gas (CNG) through a network of CNG fueling stations owned by its variable interest entity. As of the end of 2012, China Natural Gas, Inc. managed 31 CNG fueling stations across various provinces in China. Furthermore, the company provided installations for natural gas pipelines and serviced residential and commercial customers with piped natural gas through an extensive pipeline network. However, on July 2, 2014, the company underwent a transition from reorganization under Chapter 11 to liquidation under Chapter 7, with the initial involuntary petition for Chapter 11 having been filed in February 2013.
Products and Services
- Compressed Natural Gas (CNG) Distribution
- Natural Gas Pipelines Installation and Distribution
- Automobile Conversion Services
The company specialized in CNG distribution, operating 31 fueling stations across Shaanxi, Henan, and Hubei provinces. These stations provided a vital service for vehicles running on CNG, reflecting the company's commitment to cleaner energy alternatives.
China Natural Gas, Inc. extended its services to installing natural gas pipelines, offering a cleaner energy supply chain directly to its customers. It also distributed piped natural gas to residential and commercial customers through a 120-kilometer high-pressure pipeline network, especially in the city of Xi'an in Shaanxi Province and extending to Lantian County, Lintong, Baqiao districts in Shaanxi, and the city of Lingbao in Henan Province. This infrastructure supported approximately 122,020 residential and commercial customers.
The company also operated four automobile conversion sites aimed at converting gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles. This service underscored China Natural Gas, Inc.’s dedication to promoting sustainable energy practices and reducing reliance on traditional gasoline-fueled transportation.
