Chesapeake forms $1B venture-cap fund to grow gas market

摘要

Backing up its talk with its wallet, Chesapeake Energy Corp., Oklahoma City, is forming a $1-billionventure-capital fund, Chesapeake NG Ventures Corp. (CNGV), to invest in companies and technologies stimulating market adoption of compressed natural gas (CNG), liquefied natural gas (LNG) and gas-to-liquids (GTL) fuels.The company is redirecting 1 % to 2% of its forecasted annual drilling budget away from efforts to increase natural gas supply, toward projects that stimulate gas demand.