Changfeng Energy Inc. (TSXV:CFY) announced that they have signed their first gas sales contract.
Changfeng Energy Inc. (TSXV:CFY) announcehat they have signed a significant gas sales contract.
As quoted in the press release:
According to the contract, the Company will supply a total of 1 million cubic metres (approximately 35.3 million cubic feet) of natural gas per year to the customer at a price promulgated by the Development & Reform Commission of Pingxiang city. Gas payments will be made by the customer on pre-paid basis through an IC card system. The Company will collect a connection fee for installing the service pipeline and connecting the gas supply system to the customer within a month of the date the contract was signed.
Changfeng’s Chairman and CEO, Huajun Lin, said:
A good start, this is the first major gas sales contract signed for the Xiangdong project before it is in commercial operation and we anticipate that we will secure more major sales contracts with customers in the future.