The Hindu Business Line : Confidence Petro, Israel co tie up

Confidence Petroleum India Ltd, a Nagpur-based LPG bottling company, has entered into a joint venture with Energtek Inc of Israel for providing pipe-less natural gas to automotive and industrial consumers. In the first phase, Confidence Petroleum would be investing Rs 100 crore in the venture. Energtek offers Adsorbed Natural Gas (ANG) technology for storage of natural gas by maximising tank storage capabilities, which it claims to be more cost-effective. The ANG technolo gy allows storing of natural gas under lower pressures than Compressed Natural Gas technology, the prevalent technology for natural gas vehicles.

Energtek says that by utilising ANG technology, drivers of two and three-wheeler vehicles could reduce refuelling expenses and make more efficient use of the vehicle’s space. Gas distribution and dispensing companies could save on the infrastructure costs of filling stations by using lower pressure ANG cylinders, the company claimed. Addressing the media on Tuesday, after announcing the joint venture, Mr Nitin Khara, Chairman and Managing Director of Confidence Petroleum, said that the company would be manufacturing ANG cylinders from March 2009. It has also approached two-wheeler manufacturers such as Bajaj for approval of the cylinders, he said.

— Our Bureau

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