China Natural Gas CHNGQ Stock

China Natural Gas, Inc., an integrated natural gas operator, engages in the sale and distribution of natural gas and gasoline to commercial, industrial, and residential customers in the People's Republic of China. The company is primarily involved in the distribution of compressed natural gas (CNG) through its variable interest entity-owned CNG fueling stations. As of December 31, 2012, it operated 31 CNG fueling stations, including 20 CNG fueling stations in Shaanxi Province, 10 CNG fueling stations in Henan Province, and 1 CNG fueling station in Hubei Province. It also installs natural gas pipelines, as well as distributes and sells piped natural gas to residential and commercial customers through a high pressure pipeline network of approximately 120 kilometers in the city of Xi'an in Shaanxi Province, including Lantian County; the districts of Lintong and Baqiao in Shaanxi Province; and the city of Lingbao in Henan Province. As of the above date, the company had approximately 122,020 residential and commercial customers for its pipeline network, as well as operated 4 automobile conversion sites for converting gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles. The company is based in Xi'an, the People's Republic of China. On July 2, 2014, the involuntary petition of China Natural Gas, Inc. for reorganization under Chapter 11 was converted to Chapter 7. The involuntary petition was filed under Chapter 11 on February 8, 2013.