CHARLESTON, WV - Chesapeake Energy and General Electric announced plans to bring natural gas to gas stations and convenience stores, The State Journal reports.
Chesapeake Energy, which is focused on natural gas and oil production and owns midstream and oilfield assets in compression, drilling, trucking and pressure pumping, plans to provide "CNG In A Box" units at service stations and convenience stores, with the first units in place as early as this fall.
Kent Wilkinson, vice president of natural ventures for Chesapeake, said the collaboration with GE will make natural gas available to more people at a price far more affordable than gasoline (the gallon equivalent of natural gas sells today for $1.85).
According to Chesapeake, a vehicle using CNG can reduce annual fuel costs up to 40% when driving 25,700 miles in a year (about double the average miles a vehicle travels per year), saving as much as $1,500.
CNG In A Box takes natural gas from a pipeline and compresses it onsite at a refilling station or industrial location, turning it into CNG. A vehicle can then refill its tank using a traditional fuel dispenser.