GE Capital, Canada said it has signed a commercial agreement with Shell Canada Products with a view to facilitate the trucking industry’s adoption in Canada of liquefied natural gas a cleaner-burning, less expensive fuel.
Under this agreement, GE Capital and Shell will work together to reduce monthly payments for truck fleets that lease natural gas vehicles. Specifically, fleets owners can sign natural gas fueling contracts with Shell and, separately, secure leases for LNG vehicles with GE Capital. The agreement covers equipment that will purchase fuel from Shell’s facilities, GE Capital informed in a statement.
“Through this agreement, we’re giving over-the-road trucking companies the financial incentive to make the shift from diesel to natural gas,” said François Nantel, leader of GE Capital, Canada’s transportation business .
In general, LNG is used for vehicles that undertake long hauls while compressed natural gas is used for those that undertake shorter hauls.