US shale gas giant Chesapeake Energy has unveiled a new $1 billion fund to invest in projects that include LNG and compressed natural gas fuelling.
The outfit couched the new Chesapeake NG Ventures as an energy security play that provides a pathway to replace imports from Opec countries with domestically produced shale gas and oil.
In its first salvo, the CNGV fund has agreed to spend $150 million on convertible debt in Clean Energy Fuels, a California provider of LNG and CNG for heavy duty trucking.
Chesapeake,
