• 29 Dec 2014

December 17, 2014. The Asian Development Bank (ADB) announced it has signed loans of up to $450 million to assist with the development of the use of liquefied natural gas (LNG) as fuel for transport in the People's Republic of China (PRC). The loans are being extended to China Gas Holdings Ltd. which hopes to build and operate up to 20 LNG bunkering stations for river vessels. In addition, the loans will be used to build 600 compressed natural gas (CNG), 200 LNG refueling stations along major land transport corridors by 2018. China has the world's largest inland waterway system, according to ADB, meaning there is significant scope to for the use of LNG bunkers in the PRC's inland waterways. In addition it holds an estimated 3.1 trillion cubic metre of, as yet, undeveloped gas reserves. ADB's remit is to lend to poverty reduction and environmentally sustainable development projects in Asia and says the rise of air pollution from Chinese transport is causing problems in the country as well as in other parts of Asia. "Helping motor vehicles, as well as vessels that ply inland waterways, switch from diesel to natural gas will mitigate air pollution, fine particulate matter in particular," said the bank. Source: GNV Magazine