New CNG Station Commissioned

5 Aug 2005 07:01

Fortune Oil PLC05 August 2005 5 AUGUST 2005 FORTUNE OIL PLC TONGZHOU CNG STATION COMMISSIONED The Board of Fortune Oil PLC (the "Company") is pleased to announce that its FuHua subsidiary has successfully commissioned the Compressed Natural (CNG)station at Tongzhou in Beijing. This CNG station is one of the largest inBeijing and will sell gas for use by households, businesses and buses in Beijingsuburbs. However, the supply of natural gas in Beijing will remain constrainedin 2005 until the Phase II Shaanxi-Beijing pipeline (to Tongzhou) is fullyoperational. The Beijing City administration is working with local transport companies toreduce air pollution by increasing the use of natural gas powered vehicles.They have announced a plan to increase the number of gas-powered buses from thecurrent 2,100 to 5,000 by 2008. The Board considers that the provision ofnatural gas for transport will in due course represent a significant point ofconsumption in Beijing and more generally in China. ENQUIRIES: Fortune Oil PLC Tel: 020 7589 2233 (UK)Bruce McGowan - Executive Vice Chairman Tel: 00 852 2583 3113 (Hong Kong)John Pexton - Deputy Chief Executive ICIS Limited Tel: 020 7651 8688Archie Berens or 07802 442 486 This information is provided by RNS The company news service from the London Stock Exchange