China LNG signs two framework agreements to develop LNG business

China LNG Group said that it has signed two framework agreements with Shanghai Xin Si Yuan Logistic and Jiaxing Dadu to jointly work on the development of LNG vehicle and vessel leasing business in China.

According to the agreement with Xin Si Yuan, China LNG will set up a finance leasing company in Shanghai where Xin Si Yuan will act as a consultant. China LNG also agreed to give preferential benefit to the leasing customers in relation to leasing of the LNG heavy duty vehicles. It also plans to set up a Green vehicle club, to provide the lasing customers a discount on insurance, assistance, repair and maintenance.

Under the agreement with Jianxin Dadu, China LNG can use the mass transport resources of its partner, while Jianxin Dadu will select and recommend customers suitable for purchasing heavy duty vehicles from China LNG under finance lease. Management of the vehicles and payments supervision will be done by Jianxin Dadu.

Jianxin Dadu will track and provide China LNG with real time GPS information of the vehicles as well as everyday consumption of LNG.

Both companies agreed to invest 50 LNG vehicles in the first stage of the finance leasing as well as three LNG pilot ships in order to promote the use of LNG in inland water transport and shipping along the Yangtze  River.

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LNG World News Staff

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