The company has set up a joint venture (JV) company, Xiangtan Changfeng Natural Gas Co, to develop a natural gas pipeline network to serve industrial, commercial and residential customers.
The JV will also develop compressed natural gas and liquefied natural gas refueling stations.
Changfeng holds a 51% interest in the JV, together with a company owned by the local municipality Xiangtan Economic Construction and Development Investment Co and a local investment company.
The JV is working to secure a natural gas supply agreement from the Hunan subsidiary of Petro China, the owner and operator of the Second West-East pipeline.
