Download now: Oil Price Outlook 2024

Ukraine's Great East Energy Inc. gets into CNG Distribution and Sales

Brian Hicks

Written By Brian Hicks

Posted April 22, 2014

Great East Energy

Amid continuing tension related to Russia and Ukraine’s fuel supply, Ukrainian company Great East Energy (OTCQB:GASE) announced on Tuesday that it is forming a joint venture for Compressed Natural Gas distribution and retail.

“Few investors in GASE realize that the Ukraine is the eighth largest natural gas vehicle market in the world and the second in Europe behind Italy,” Timur Kkromaev, CEO of Great East Energy said in a press statement. “As we continue our natural gas exploration and expand production, entering the CNG distribution and sales segment is a logical step to diversify our customer base, increase our revenues, boost our margins and increase returns to our shareholders.”

Great East Energy, however, did not announce the name of the other company in this joint venture, stating instead that it’s “a renowned CNG station operator” in Ukraine with approximately $6.8 million in compressed natural gas sales and ten stations in major Ukrainian cities.

Drone Wars

We’re approaching a pivotal time in the United States. By the end of September 2015, the Federal Aviation Administration will have to enact its rules for commercial drone use within U.S. Airspace. For months we’ve been telling you to keep your eyes on the space, and it just keeps getting hotter.

Angel Pub Investor Club Discord - Chat Now

Brian Hicks Premium

Introductory

Hydrogen Fuel Cells: The Downfall of Tesla?

Lithium has been the front-runner in the battery technology market for years, but that is all coming to an end. Elon Musk is against them, but Jeff Bezos is investing heavily in them. Hydrogen Fuel Cells will turn the battery market upside down and we've discovered a tiny company that is going to make it happen...

Sign up to receive your free report. After signing up, you'll begin receiving the Energy and Capital e-letter daily.