Changfeng Engergy Inc. (TSXV: CFY), a natural gas utility in China, recently announced that it completed key safety and inspection testing of its Xiangdong pipelined gas distribution project. To date, some 7.5km of pipeline has been buried underground, setting the stage for potential upside when it comes operational on a commercial level.
Changfeng Energy Inc. (“Changfeng” or the “Company”) (TSX VENTURE:CFY), a natural gas utility in China, announced today that the Company has completed the preoperational inspection and safety testing of its Xiangdong pipelined gas distribution project (the “Xiangdong Project”) located in the Xiangdong district, Pingxiang city, Jiangxi Province, China. As a result, the pipeline and its facilities are ready for the commercial natural gas distribution.
The Xiangdong Project, the Company’s first pipelined gas distribution project in Mainland China, was launched in early 2010 and the first phase of construction of this project inside the Pingxiang Industrial Ceramic Park (the “Park”) commenced in November 2011. To date, approximately 7.5 kilometers (4.66 miles) of pipeline has been buried underground, and a set of CNG (compressed natural gas) pressure regulators and gas processing facilities were installed.
To view “Figure 1: An on-site technician is checking the pressure regulator“, please visit the following link: http://www.marketwire.com/library/20130122-848596800.jpg.
To view “Figure 2: From left to right, representatives from Changfeng, the local customer, and the local government participated in igniting the gas for safety testing in the Park“, please visit the following link: http://www.marketwire.com/library/20130122-800848596.jpg.
About Changfeng Energy Inc.
Changfeng Energy Inc., is a local natural gas distribution company (“LDC” or natural gas utility) with operations located throughout the southern part of People’s Republic of China. The Company serves industrial, commercial and residential customers, providing them with natural gas for heating purposes and fuel for transportation. The Company has developed a significant natural gas pipeline network as well as urban gas delivery networks, stations, substations and gas pressure regulating stations in Sanya City & Haitang Bay. Through its network of pipelines, the Company provides safe and reliable delivery of natural gas to both homes and businesses. The Company is headquartered in Toronto, Ontario and its shares trade on the Toronto Venture Exchange under the trading symbol “CFY”. For more information, please visit the Company website atwww.changfengenergy.com.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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