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Changfeng Energy Inc., (TSXV:CFY) announced that a controlled subsidiary, Hebei Riheng Clean Energy Ltd. has been established in Shijiazhuang, Hebei, China.
Changfeng Energy Inc. (TSXV:CFY) announced that a controlled subsidiary, Hebei Riheng Clean Energy Ltd. has been established in Shijiazhuang, Hebei, China to pursue the gas distribution and clean energy related projects in Hebei Province.
As quoted in the press release:
Due to the Central Chinese Government’s energy reform policies that endeavor to phase out coal gas usage and transform China into a natural gas driven economy, the Hebei based factories and industry parks were forced to replace coal with natural gas. Moreover, some of the Hebei based factories were forced to move out of the cities to remote areas where pipeline gas is not accessible. A new market opportunity therefore presented itself for energy firms to supply liquefied natural gas (‘LNG’) to the Hebei factories and industrial parks. The province has experienced a severe shortage of natural gas in the latter half of 2017 and this natural gas shortage trend is expected to continue in the future. Hebei Province
Hebei Province is situated in the north China Plain, north of the lower reaches of the Huanghe (Yellow) River. Bounded by the Bohai Sea to the east, it has a coastline of some 500 kilometres. The whole province is 190,000 square kilometres and is inhabited by approximately 74.7 million people. Shijiazhuang is the provincial capital.
Click here to read the full Changfeng Energy Inc., (TSXV:CFY) press release.