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China LNG and Shanghai Fargo invest in small-scale LNG

LNG Industry,

China LNG has entered into a framework agreement with Shanghai Fargo to cooperate on increasing investment in LNG refuelling stations and in providing new LNG trucks for the commercial logistic transportation industry in China.

Shanghai Fargo has agreed to assist China LNG with the following:

  • Communicate with the Shanghai government to accelerate the approval process in land, planning and project approval, and provide tax incentives in relation to the cooperation.
  • Look for suitable locations for the construction of LNG refuelling stations and LNG storage tanks.

China LNG has agreed to:

  • Invest in the cooperation and assume responsibility for technical support, together with a large state-owned enterprise.
  • Provide heavy-duty LNG trucks or replace current LNG trucks belonging to Shanghai Fargo.
  • Provide financial support, insurance services and operating lease services through Ping An Securities Limited, in relation to the provision/replacement of heavy-duty LNG trucks.

Since 2013, China LNG has negotiated with provincial governments throughout the People’s Republic of China in relation to the development of LNG businesses and initiatives.

Edited from various sources by Katie Woodward

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