CHESAPEAKE ENERGY ANNOUNCES $1.0 BILLION INVESTMENT IN VENTURE CAPITAL INITIATIVE TO STIMULATE USE OF COMPRESSED NATURAL GAS, LIQUEFIED NATURAL GAS, AND NATURAL GAS-TO-LIQUIDS FUELS IN AMERICA'S TRANSPORTATION SECTOR

摘要

Seeking to start a natural gas "demand revolution," the nation's second largest producer of natural gas, Chesapeake Energy Corp., announced on 7/11/11 that it has formed a venture capital fund, Chesapeake NG Ventures Corp. (CNGV), to stimulate market adoption of compressed natural gas (CNG), liquefied natural gas (LNG), and natural gas-to-liquids (GTL) fuels. The new entity will invest $1.0 billion over the next 10 years in companies and technologies that use those fuels. The first two ventures, $150 million to Seal Beach, California-based Clean Energy Fuels Corp., and $155 million to Louisville, Colorado-based Sundrop Fuels, Inc., will focus on LNG refueling infrastructure and cellulosic biofuel production, respectively.