China LNG Group is set to expand its LNG transportation fleet capacity to cope with the growing LNG sales volume.
According to a stock exchange filing, the company initially agreed to purchase 150 cryogenic semi-trailers for 72.8 million Chinese yuan ($10.98 million).
The agreement was followed by a deal to purchase 154 tractors for a total value of 66.8 million yuan ($10 million).
China LNG Group currently owns 60 LNG refilling trucks used to transport LNG to its customers. The increase of the company’s sales volume has prompted the company to expand its LNG transport fleet.
Once paired with the cryogenic semi-trailers, tractors will be added to the existing LNG refilling truck fleet.
The company noted that the value of the contracts with five different vendors will be covered through internal resources of the group.
1 CNY = 0.150807 USD