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CHNG > SEC Filings for CHNG > Form 8-K on 8-Jul-2009All Recent SEC Filings

Show all filings for CHINA NATURAL GAS, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for CHINA NATURAL GAS, INC.


8-Jul-2009

Entry into a Material Definitive Agreement, Financial Statements and Exhi


Item 1.01 Entry into a Material Definitive Agreement

On July 6, 2009, our variable interest entity Xi'an Xilan Natural Gas Co., Ltd. ("Xilan") entered into a strategic cooperation framework agreement (the "Agreement") with China National Petroleum Corporation Kunlun Natural Gas Co., Ltd. ("CNPC Kunlun"), a wholly owned subsidiary of China National Petroleum Corporation ("CNPC") and the largest supplier of compressed natural gas ("CNG") in China. Pursuant to the Agreement, Xilan and CNPC Kunlun will establish a joint venture (the "Joint Venture") with CNPC Kunlun holding a 51% equity interest in the Joint Venture and Xilan holding a 49% equity interest in the Joint Venture. The purpose of the Joint Venture is to build and operate CNG fueling stations and compressor stations in cities where CNPC has an existing CNG pipeline network. The Joint Venture will build these stations in twenty cities throughout China along CNPC's existing CNG pipeline network during the initial two years commencing from the date of the Agreement.

A copy of the Agreement is filed as Exhibit 10.1 and the above summary of the Agreement is qualified in its entirety by reference to such agreement, which is incorporated herein.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1    Strategic Cooperation Framework Agreement dated as of July 6, 2009 by
        and between Xi'an Xilan Natural Gas Co., Ltd. and China National
        Petroleum Corporation Kunlun Natural Gas Co., Ltd.


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