It is reported that Hubei Energy Group plans to invest CNY 20 million to set up a subsidiary that will build a natural gas utilization program in Shennongjia Forest a region directly administered by the Hubei provincial government.

On September 9, the Shennongjia government signed an agreement with Hubei Energ which has been entrusted with the responsibilities to plan, finance, build and operate the natural gas program in Shennongjia forest for 30 years.

The company will develop downstream natural gas in the Shennongjia forest and supply natural gas to urban residents. The natural gas region includes a development zone an industrial zone and tourist attractions.

Hubei Energy and subsidiary Hubei Natural gas Development will establish Shennongjia Natural Gas Company.

(Sourced from www.capitalvue.com)