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Wed 17 Dec 2014, 13:03 GMT

China Gas secures loan to develop gas transportation infrastructure


Loan to be partly used to build 20 LNG stations for inland water transport.

China Gas Holdings Ltd - a natural gas services operator listed on the Hong Kong Stock Exchange - has secured a loan agreement worth US$450 million from the Asian Development Bank (ADB) in order to finance the development of a natural gas transportation insfrastructure in China, local news sources report.

According to the sources, the loan is to be used to build 600 compressed natural gas (CNG) stations and 200 liquefied natural gas (LNG) stations along major highways with 20 LNG stations for inland water transport.

Zhou Si, chairman of China Gas (as well as vice-chairman and CEO of Beijing Enterprises Holdings Ltd and vice-chairman of Beijing Enterprises Group Company) is quoted as saying: "More use of new energy is the key to protecting the environment. If natural gas replaces diesel, China will cause much less pollution."

China has the largest inland water network in the world with the potential to develop a vast transportation network using clean energy.

In October, classification society DNV GL said in a statement: "Using liquefied natural gas as ship fuel is about to become another integral part of China’s low-carbon strategy, especially in short sea and river shipping."

DNV   LNG   Non-vessel build   China 
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