Initiative Targets Natural Gas Fueling Infrastructure Development

Agreement Designed to Develop Products and Services for Compressed Natural Gas (CNG) and

Liquefied Natural Gas (LNG) Transportation and Home Fueling Solutions

Chesapeake to Deploy More than 250 of GE’s ecomaginationTM-Qualified “CNG In A BoxTM”

Fueling Systems across the United States through 2015 through its Affiliate, Peake Fuel Solutions

HOUSTON—March 7, 2012—GE (NYSE: GE) and Chesapeake Energy Corporation (NYSE: CHK) today announced a collaboration to develop infrastructure solutions that will help accelerate the adoption of natural gas as a transportation fuel. This groundbreaking technology and services project marks a significant milestone toward increasing energy independence in the United States through the increased use of natural gas—an abundant, reliable and cleaner-burning source of energy for both consumers and commercial users.

To formalize the agreement, GE and Chesapeake have signed a memorandum of understanding on a product and services development partnership, representing a multi-year collaboration between the two companies to develop and bring to market compressed natural gas (CNG) and liquefied natural gas (LNG) transportation and natural gas home-fueling solutions. By improving access to CNG, which is most commonly used in light- to medium-duty vehicles such as pickups, vans, SUVs, taxicabs, transit buses, refuse and delivery trucks as well as consumer vehicles, along with LNG, which is commonly used for heavy-duty industrial purposes, dependence on foreign energy sources can be reduced while simultaneously lowering fueling costs and vehicle emissions. 

http://www.chk.com/News/Articles/PressReleases/03-07-12%20GE%20CHK.pdf