Canada's Changfeng Energy to Pursue LNG Trading in China

Changfeng Energy has signed an agreement with Tangshan Caofeidian Development Investment Group (CFD Group) to jointly pursue LNG trading, natural gas distribution, transportation, and related infrastructure construction in China.

Toronto listed Changfeng’s wholly owned subsidiary, Sanya Changfeng Offshore Natural Gas Distribution Co. signed the deal, the company announced Monday.

The joint venture is named Caofeidian Evergrowth Energy Co. and is based in Tangshan City, Hebei province. Changfeng and CFD Group respectively own 50 percent each of the JV. Under the joint venture agreement, both parties agree to work with a third party to establish and operate an energy resource exchange in Northern China, Changfeng said.

CFD Group is a state owned enterprise established in July 2007. CFD group owns 37 subsidiaries, which are involved in various industries such as real estate, tourism and hotels, logistic, road and railway, architecture, utilities, water treatment facilities, sea desalination, and telecommunication.

Changfeng Energy Inc. is a natural gas service provider with operations located throughout the People's Republic of China. The Company services 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.